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2021 Is Expected to Rank as Biggest Year for Inflation in Four Decades
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U.S. inflation is on track to have closed out 2021 near its highest level since 1982 as robust consumer demand exacerbated pandemic-related supply shortages.
Economists surveyed by The Wall Street Journal estimate the Labor Department’s consumer-price index—which measures what consumers pay for goods and services—rose 7.1% in December from the same month a year ago, up from 6.8% in November. That would mark the fastest pace since 1982 and the third straight month in which inflation exceeded 6%.
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