According to new data released by the Bureau of Labor Statistics, price inflation in February rose to the highest level recorded in more than forty years . According to the Consumer Price Index for February, year-over-year price inflation rose to 7.9 percent. It hasn’t been that high since January 1982, when the growth rate was at 8.3 percent.
February’s increase was up from January’s year-over-year increase of 7.5 percent. And it was well up from February 2021’s year-over-year increase of 1.7 percent.
A clear inflationary trend began in April 2021 when CPI growth hit the highest rate since 2008. Since […]
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