Gold prices moving higher after U.S. CPI rises 6.8%, biggest jump since 1982

  • 12/10/2021
  • Source: Kitco News
  • by: Neils Christensen
Gold prices are pushing higher, following a stronger-than-expected rise in U.S. consumer prices.

Friday, the U.S. Labor Department said its U.S. Consumer Price Index rose 0.8% in November, after a 0.9% rise in October. The data beat consensus forecasts as economists were forecasting a 0.7% rise.

For the year, the report said that headline inflation rose 6.8%. The report said this is the "largest 12-month increase since the period ending June 1982."

Annual inflation rose in line with expectations. Some economists were bracing for inflation to rise above 7%.

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