On Tuesday, a government report showed that consumer prices jumped 8.5% in March.
The rapidly inflating consumer prices plaguing many markets have left many in Los Angeles County double-checking their bills and forcing them to cut their costs.
The cost of living for Americans has skyrocketed not just for groceries, but for gas and many other goods. In a report from the Department of Labor released Tuesday, consumer prices increased 8.5% in March the fastest inflation rate since 1981, essentially erasing most wage increases. Thornberg and the Beacon of Economics, an independent research and consulting firm, said that there is no easy solution to the rapidly increasing inflation, scaring many politicians.
The newly released inflation numbers were the first to show the full surge of gas prices following Russia's invasion of Ukraine. However, fuel costs have been rising steadily amid the supply chain bottlenecks after the United States emerges from the pandemic.
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U.S. inflation increased 8.5% in the past year, highest in 40+ yearsPrices 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.
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Sticker Shock: March Inflation Expected to Set Another 40-Year HighWith ever-rising costs for food, gasoline, housing and other necessities squeezing consumers and threatening the economy, inflation in the United States likely set yet another four-decade high in March
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Inflation hits another 40-year high in the United StatesHave you felt the impact of inflation lately? You're not alone. The United States hit yet another 40-year high according to a report from the Bureau of Labor Statistics.
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Sticker shock: Inflation in United States likely set new 40-year high in MarchWith ever-rising costs for food, gasoline, housing and other necessities squeezing consumers and threatening the economy, inflation in the United States likely set yet another four-decade high in March.
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Sticker shock: Inflation in United States likely set new 40-year high in MarchWith ever-rising costs for food, gasoline, housing and other necessities squeezing consumers and threatening the economy, inflation in the United States likely set yet another four-decade high in March.
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