November Consumer Price Index Continues High Inflation Streak

Inflation continued to Surge in November as demand for goods continue to exceed pre-pandemic levels.

Inflation 280 AdobeStock 119107726Credit Union National Association (CUNA) Senior Economist Dawit Kebede, PhD, issued the following statement in response to the November Consumer Price Index:

“Inflation continued to surge in November. Supply chain disruptions, higher demand for goods that continue to exceed pre-pandemic levels and increases in COVID-sensitive items such as shelter contributed to the rise.

“The Federal Reserve was focused on supporting maximum employment as the recent price spike was thought to be transitory due to supply chain issues. Now the Fed seems to be concerned with stabilizing prices since COVID-related disruptions may not ease up soon.