U.S. inflation soared 7.9% in the past year, a fresh 40-year high
For the 12 months ending in February, grocery prices leapt 8.6%, the biggest year-over-year increase since 1981, the government said. Gas prices are up a whopping 38%. And housing costs have risen 4.7%, the largest yearly jump since 1991.
The economic consequences of Russia’s war against Ukraine have upended a broad assumption among many economists and at the Fed: That inflation would begin to ease this spring because prices rose so much in March and April of 2021 that comparisons to a year ago would show declines. Even before Russia’s invasion, inflation was not only rising sharply but also broadening into additional sectors of the economy. Many prices have jumped over the past year because heavy demand has run into short supplies of items like autos, building materials and household goods.
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US inflation soared 7.9% in past year, a fresh 40-year highPropelled 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
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US inflation soared 7.9% in past year, a fresh 40-year highPropelled 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
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Another 40-year high: US inflation soars 7.9% over past 12 months, biggest spike since 1982This number doesn't even reflect the oil and gas spikes of the past week, which will likely catapult prices even higher in the coming months.
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Dad accused of abusing 6-year-old charged with murder almost a year after boy’s deathVideo from a N.J. fitness center surveillance system showed the child running on a treadmill and his father speeding up the machine even as the boy kept falling, according to prosecutors.
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U.S. February Consumer Prices Rose 7.9% From Year EarlierU.S. inflation reached a new four-decade high in February, the Labor Department said Thursday, as Russia’s invasion of Ukraine pushed energy prices sharply higher.
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