January 16, 2008

Gas, food spur inflation jump in 2007 (AP)

A shopper carries a purchase from a store in Pasadena, California. US consumer prices risen 0.3 percent in December, pushing up inflation for the year to a 17-year high of 4.1 percent, government data has shown.(AFP/File/Robyn Beck)AP – Consumer prices rose in 2007 at the fastest pace in 17 years as motorists paid a lot more for gasoline and grocery shoppers paid higher food bills. However, falling prices for clothing and new cars offset some of those gains.

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