New York Times: Oil Prices Are Just the Beginning as US Inflation Spreads to More Areas

November 10 — A New York Times reporter wrote that when inflation first began to pick up this spring, there was a relatively optimistic view in economic circles: the price increases were mainly driven by energy prices, and there were no clear signs yet that upward price pressure was transmitting to other parts of the economy.

But in recent months, this situation has changed markedly. Over the past three months, US consumer prices excluding energy rose at an annualized rate of 3.6%.