A 7% annual increase in consumer prices is Americans' latest bad economic news.

Consumer prices in the US made the most significant year-to-year jump since 1982, the latest sign that rising inflation is negatively impacting working Americans.

According to Labor Department data released on Wednesday, December's price increase followed a 6.8% average rise the month before. 

White House officials have claimed in recent months that increased spending by Americans has led to the rising cost of grocery items and gas. They have also blamed consumer spending for clogged ports and supply chain issues, which have also been driving up prices in multiple industries. 

The latest data shows commodities, shelters, and new and used vehicles saw the most significant price jumps. 

The Federal Reserve has said it is ready to introduce interest rate hikes this year to curb ongoing inflation issues, which could begin as soon as March. In his Senate testimony on Tuesday, Chairman Jerome Powell said it's a "long road to normal" for the US economy as the country continues to navigate the Covid-19 pandemic. 

"We're just going to be moving over this year to a policy that is closer to normal. But it's a long road to normal from where we are," he said.

Inflation has become a top priority for Americans, even beginning to outshine the pandemic for many. This week, an Associated Press/NORC Center for Public Affairs Research poll found that an overwhelming majority of respondents listed inflation as a top concern in 2022, while only 37% said Covid was one of their highest priorities.