Inflation hits highest level in 39 years as consumer prices jump 5.7 percent

The inflation rate is running at its hottest pace in nearly four decades, as widespread supply disruptions, high consumer demand and worker shortages fuel a surge in prices. Consumer prices soared by 5.7 percent in the year through November, according to the Personal Consumption Expenditures price index released by the Commerce Department Thursday. That topped the previous month’s rate of 5.1 percent, becoming the fastest pace increase since February 1982, when it hit 6.2 percent.-- More...