Durable Goods Inflation Breaks All-Time 1970s High as Prices Jump 14.9%John Carney 11 Dec 2021
While the overall pace of inflation reached a nearly four-decade high in November, inflation for longer-lasting goods actually hit an all-time high.
Prices of durable goods jumped 1.6 percent in November compared with the prior month, data from the Labor Department showed Friday. That would be an all-time record apart from the extraordinarily high monthly price hikes seen in April, May, and June of this year.
Over the past 12-months, prices of durable goods are up 14.9 percent, higher than the record annual gain of 14.4 percent hit in May 1975.
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