Consumer prices rose 6.8% for the 12 months ending in November, a 39-year high. Prices have dropped on global markets for crude oil and natural gas, which is filtering into lower prices at the pump and for home heating. To be sure, economists say inflation will likely stay higher than it was before the pandemic, even after it eases through 2022. “This is not going to be an easy fix,” said Nela Richardson, chief economist at ADP.
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Inflation is painfully high, but some relief may be coming
