Hundred dollar bill. Falling money isolated background. American cash.

THE GUARDIAN reports:

The price of goods and services in the US continue to rise at rates unseen in decades, jumping 7% in December compared to the same month last year – the seventh consecutive month in which inflation has topped 5%.

The news represents a blow to the Biden administration and the Federal Reserve, which until recently have characterized soaring prices as a “transitory” phenomenon brought about by supply chain issues triggered by the pandemic.

On Wednesday, the labor department ...

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