In Today's Catholic World News Blog

Inflation in the U.S. in 2021 was Highest in 40 Years

"Prices paid by U.S. consumers jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, rent and other necessities are heightening the financial pressures on America’s households. ... 

 

Rising prices have wiped out the healthy pay increases that many Americans have been receiving, making it harder for households, especially lower-income families, to afford basic expenses. Polls show that inflation has started displacing even the coronavirus as a public concern, making clear the political threat it poses to ... Democrats." (Source: The Associated Press, January 12, 2022)

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