Roundup: Consumer prices / MBA salaries / COVID pill

On the rise: U.S. consumer prices rose 5.7% over the past year, the fastest pace in 39 years, as a surge in inflation confronts Americans during the holiday shopping season. The November increase, reported this morning by the Commerce Department, follows a 5.1% rise for the 12 months ending in October, continuing a string of annual price gains that have run well above the 2% inflation target set by the Federal Reserve. See the report. 

Starting pay: Pay for business graduates rebounded to new heights this year after flatlining early in the pandemic, The Wall Street Journal reports. Salaries for newly minted MBAs are hitting record highs as consulting firms, banks and technology companies lure top graduates into their ranks in a tight labor market. Both the Wharton School of the University of Pennsylvania and the University of Chicago’s Booth School of Business reported the median salary for this year’s graduates grew $5,000 to hit $155,000. Read the full story. 

COVID help: U.S. health regulators this morning authorized the second pill against COVID-19, providing another easy-to-use medication to battle the rising tide of omicron infections. The Food and Drug Administration authorization comes one day after the agency cleared a competing drug from Pfizer. That pill is likely to become the first-choice treatment against the virus, thanks to its superior benefits and milder side effects. Read the full story. 

Editor’s note: Daily Report will not be published on Friday, Dec. 24, or on Monday, Dec. 27, due to the Christmas holiday. Daily Report will return on Tuesday, Dec. 28. Have a safe and happy holiday.