Inflation is high, but nowhere near its historical peak
SAN DIEGO (KUSI) – On Good Morning San Diego, KUSI’s Paul Rudy talked with On The Air Co-Host, Sully, about our nations inflation.
Consumer prices rose 0.5% in December to push the increase in the cost of living last year to a nearly 40-year high of 7%, indicating high U.S. inflation is likely to persist well into 2022.
Consumer prices may be rising at the fastest pace in 39 years, but is not at it’s worst.
Inflation has soared due to strong customer demand and ongoing labor and supply shortages. While price pressures are likely to ease in 2022, economists estimate the rate of inflation will probably exceed 3% by year end.