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Inflation climbs at fastest pace in nearly 40 years

Inflation surged to its highest level in nearly four decades in 2021. The Consumer Price Index increased by 0.5% in December, for a total annual increase of 7%. CBS News senior White House correspondent Weijia Jiang and CBS News congressional correspondent Scott MacFarlane join CBSN to discuss the Biden administration's plans to combat inflation and what it means for Americans moving forward.
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