Cars, bacon, menswear: Main drivers of 2021 US inflation

US inflation ended 2021 at scorching levels, and its main driver reflected the woes of the economic recovery as the country was hit by multiple waves of COVID-19.

Food costs, which account for about 14 percent of the consumer price index, jumped 6 percent in December from a year earlier, led by meats such as bacon – up nearly 19 percent.

Last year’s jump in car prices was a by-product of component shortages plaguing automakers globally. New and old motor vehicles, which weigh more than 8 percent in the CPI index, jumped to a record 20.9 percent last month.

And as the COVID-19 variant continues to hamper supply chains, the cost of certain furniture and cookware items is rising to a record for Americans — many of whom are still spending more time at home than before the pandemic.

Millions of people are returning to the office too, although December’s variant of the omicron has led many companies to back down from their plans to return to the office. That may explain the surge in apparel prices — menswear inflation hit a record high.

Products with record annual inflation

• Menswear
• Cooking utensils and cutlery
• Linen
• Tools, hardware and supplies
• New and used cars
• Living room, kitchen and dining room furniture

Rents rose 4.2 percent last month, the most since February 2007. Economists expect rents, unlike many other prices, to increase this year.