US inflation jumped 8.5% in past year, highest since 1981
The Labor Department said its consumer price index jumped 8.5% in March from 12 months earlier, the biggest year-over-year increase since December 1981.
The Labor Department said its consumer price index jumped 8.5% in March from 12 months earlier, the biggest year-over-year increase since December 1981.
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Americans are now digging deeper into their pockets to pay for nearly everything. Food prices were already going up, and now things have gotten even worse since Russia’s invasion of Ukraine.
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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.
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