(FOX BUSINESS) – Strategic Resource Group managing director Burt Flickinger argued on Thursday that Americans are experiencing "one of the worst crises in modern retail history that we've seen and it has all evolved in less than a year." "This was not a crisis 12 months ago," Flickinger noted.
He made the comments on "Mornings with Maria" the day after it was revealed that U.S. consumer prices accelerated at the fastest annual pace in more than 30 years as supply chain bottlenecks and materials shortages persisted and gasoline prices surged.
The consumer price index climbed 6.2% year over year in October, according to the Labor Department. The increase marked the largest annual gain since November 1990. Prices rose 0.9% month over month.
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