The Labor Department on Wednesday showed the annual rate of US consumer price growth once again reached the highest level in almost 40 years in December. The report showed the annual rate of consumer price growth surged to 7% in December from 6.8% in November, showing the biggest yearly jump since June of 1982. Core consumer prices, which exclude food and energy prices, were up by 5.5% year-over-year in December compared to the 4.9% spike in November. The annual growth reflected the biggest surge since February of 1991.
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