The U.S. annual inflation rate surged to its highest level since 1982 in November, coming in at 6.8 percent. With the record-breaking number dominated headlines, what were some of the biggest drivers of higher prices for businesses and consumers last month? The main expenditure categories highlighted notable year-over-year growth across the board. The food index climbed 6.1 percent, and the energy index soared 33.3 percent. The indexes for shelter picked up 3.8 percent, while apparel advanced 5 percent. New vehicles, and used cars and trucks increased 11.1 percent and 31.4 percent respectively. Items within these indexes suggest that shoppers are facing an inflation tax for just about everything they buy. At the dinner table, U.S. households are grappling with increasing costs for meat, vegetables, and fruit. Fresh biscuits, rolls, and muffins jumped 6.6 percent in the 12 months ending November. Flour and prepared flour mixes rose 6.2 percent. Breakfast cereal …
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