US price rises hit highest level for 40 years

Prices for American consumers are rising at their fastest annual rate since June 1982. The consumer price index (CPI) rose 6.8% in the year to November according to the latest figures from the Bureau of Labor Statistics. Petrol prices jumped 6.1%, while the cost of second-hand cars, rent and food also rose. However the monthly pace of price rises at 0.8% in November was slightly lower than October's 0.9%.