Inflation soars as prices spike 6.8 percent, most in 39 years

Prices spiked a whopping 6.8 percent in November, compared with the same time last year — the fastest acceleration of inflation the country has seen in 39 years, the feds announced Friday. It’s the highest year-over-year reading of the Labor Department’s Consumer Price Index, which measures a basket of goods and services as well as energy and food costs, since 1982, when the country saw surging inflation that sparked year-over-year spikes as high as more than 14 percent.-- More...