As the U.S. annual inflation rate climbed to 7 percent in December, the highest level since June 1982, new data show that almost every category was higher in the 12 months ending in December.
Food prices surged 6.3 percent, while energy was up 29.3 percent. New vehicles and used cars and trucks soared 11.8 percent and 37.3 percent, respectively. Apparel jumped 5.8 percent, shelter picked up 4.1 percent, and medical care services inched higher 2.5 percent.