US inflation jumps 7% in biggest annual increase in 39 years

The consumer price inflation in the US jumped in December 2021 at its fastest year-over-year pace since June 1982, the US Bureau of Labor Statistics reported. Inflation rose 7% in December 2021 from the same month a year ago, up from 6.8% in November. The largest contributors to the inflation were price increases in housing and used vehicles.