Another month, another four-decade high for inflation. For the 12 months that ended in March, consumer prices rocketed 8.5%. That was the fastest year-over-year jump since 1981, far surpassing February’s
Inflation soared over the past year at its fastest pace in more than 40 years, with costs for food, gasoline, housing, and other necessities squeezing American consumers and wiping out the pay raises that many people have received.
Inflation soared over the past year at its fastest pace in more than 40 years. The Labor Department said its consumer price index jumped 8.5% in March.
Prices have been driven up by bottlenecked supply chains, robust consumer demand and disruptions to global food and energy markets worsened by Russia’s war against Ukraine.
Consumer prices increased 8.5% in the 12 months ending in March, a number that is sure to fuel consumer anxiety and further erode support for President Joe Biden's agenda.
The Labor Department said Tuesday that its year-over-year consumer price index jumped 8.5% in March, setting a 40-year high. The Federal Reserve expects to raise interest rates again in the coming months aimed to slow borrowing and spending and combat inflation.
Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.
The consumer price index rose 8.5% in March from a year ago, according to a new Labor Department report released Tuesday, marking the fastest increase since January 1982, when inflation hit 8.4%. The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – …
WASHINGTON -- Inflation soared over the past year at its fastest pace in more than 40 years, with costs for food, gasoline, housing and other necessities squeezing American consumers and wiping out the pay raises that many people have received.
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US inflation jumps 8.5% over year, highest since 1981 | Since Then
