By Megan Cassella
Updated Dec. 10, 2021 9:18 americium ET / Original Dec. 9, 2021 7:00 p.m. ET
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Consumer prices roseate 0.8% successful November from a period earlier, and the year-over-year complaint surged to 6.8%, the fastest yearly gait since 1982.
The information puts ostentation astatine a level wide expected to punctual the Federal Reserve to determination much rapidly to tighten monetary policy. It could besides hamper President Joe Biden’s extremity of passing a multitrillion-dollar societal spending bundle done Congress earlier the extremity of the year, fixed cardinal lawmakers’ concerns implicit rising prices.