Inflation has risen to it’s highest level in the U.S. in a generation, according to just-released numbers from the federal government. The Consumer Price Index climbed by 6.8 percent through November, the fastest pace since 1982, according to the New York Times.
Prices were up 0.8 percent from October, according to the report.
The yearly surge continues to be driven by prices for food, energy and housing—putting pressure on the country’s economic recovery and the Federal Reserve.
Excluding food and energy prices, the Index was up 0.5 percent for the month of November and 4.9 percent from a year ago, which itself is the sharpest rise since mid-1991, per CNBC.
Housing costs, which comprise about one-third of the Consumer Price Index, are up 3.8 percent on the year—the highest since 2007 when the housing crisis accelerated.