A key inflation gauge rose 5.8% in 2021, most in 39 years

  • High gas prices are posted at a full service gas station in Beverly Hills, Calif., Nov. 7, 2021. Oil prices, which have a big impact on the price of gasoline and home heating oils, have been on an up-and-down ride since the fall. And while oil prices are usually pretty volatile, the constantly change nature of the coronavirus pandemic has made predicting the ups and downs even harder. (AP Photo/Damian Dovarganes)

WASHINGTON — A measure of prices that is closely tracked by the Federal Reserve rose 5.8% last year, the sharpest increase since 1982, as brisk consumer spending collided with snarled supply chains to raise the costs of food, furniture, appliances and other goods.