(Bloomberg – U.S. inflation was at its highest point of 2021, reflecting the difficulties of recovery following several wave of Covid-19.

The consumer price index reflects approximately 14% of food costs. December saw a 6% increase in food prices compared to a year ago. This was led by bacon and meats — almost 19%.

Last year’s surge in car prices was a byproduct of component shortages that hit automakers globally. Last month saw a record 29% increase in prices for both new and used motor vehicles with more than 8 % CPI index.

Covid-19-related variants continued to disrupt supply chains. As a result, prices for certain kitchenware and furniture rose at an unprecedented rate. Americans are still spending more time at their homes than ever before.

Many employers have had to reverse their plans to return to work after the December omicron version made it impossible for millions to go back to work. That may explain the surge in apparel prices — men’s clothes inflation is at a record high. 

Continue reading: Fed Hike Sets the Stage for U.S. Inflation to Hit a 39-Year Record of 7%

Last month’s rents rose by 4.2%, their highest level since February 2007. Economists predict that rents will rise, and not like other prices this year.

(A previous version of the story corrects the table to delete an item.

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