Business

Inflation reached a new high in 40 years in the United States

(CNN) — Inflation does not let up in the United States: in March, prices continued to rise and reached a new maximum in 40 years, according to data from the Bureau of Labor Statistics published this Tuesday.

The Consumer Price Index rose 8.5% for the year to March, unadjusted for seasonal changes, surpassing February’s high reading of 7.9% and matching a level not seen since December 1981.

Most of the March gain was driven by a rise in gasoline and food prices, which surged as the conflict in Ukraine sent global commodity markets spinning out of control, as well as a spike in electricity costs. living place.

In the past month alone, US gasoline prices rose more than 18%.

Excluding the most volatile food and energy categories, prices rose 6.5% during the 12-month period ending in March, the biggest jump since August 1982.

Energy costs have risen 32% over the past year, while food prices are up 8.8%. It was the biggest increase in food prices since May 1981.

For the month of March, consumer prices rose 1.2% seasonally adjusted. Excluding food and energy, prices rose 0.3%, less than in February, underscoring the importance of commodity prices in the current spike in inflation.

Airline tickets, furniture, medical care and motor vehicle insurance have also increased in price.

Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button