Breaking records Inflation highest since 1982

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • US inflation soared 7% in past year, the most since 1982
  • Ayers and other economists say prices may cool off some as snags in the supply chain ease, but inflation will remain elevated throughout 2022
  • Rising prices have wiped out the healthy pay increases that many Americans have been receiving, making it harder for households, especially lower-income families, to afford basic expenses
  • Used car prices have soared more than 37% over the past year
  • Clothing costs rose 1.7% just in December, its second month of sharp increases, and are up 5.8% from a year ago.
  • Gas 50% higher than a year ago.
  • Many restaurants have been passing along higher labor and food costs onto their customers

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