A key inflation measure rose at the fastest pace in 40 years

A key measure of inflation rose 5.8% between December 2020 and December 2021, the Bureau of Economic Analysis reported Friday

New York .

It was the biggest advance since 1982.Energy prices alone rose nearly 30% over the course of 2021, while food prices climbed 5.7%. Stripping out those two components, the core consumer price index -- which is the Federal Reserve's preferred measure of inflation -- rose 4.9% in the 12 months to December. That was the fastest price hike by that measure since 1983.For the month of December alone, prices rose 0.4% -- a decline from the 0.6% in both October and November. Core prices advanced 0.

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