Focus on rising consumer prices has increased amid the latest data release from the Bureau of Labor Statistics showing that the inflation rate, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), was 6.8% over the 12 months ending November 2021, the largest 12-month increase in 39 years. Inflation is generally defined as an increase in prices across the economy broadly. However, not all prices used to calculate the inflation rate increase by the same amount, and inflation rates can differ across geographic locations. This Insight examines the inflation rate across various product categories and geographic areas.
“Breaking Down the U.S. Inflation Rate,” CRS Insight IN11832, December 21, 2021 (7-page PDF
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