Inflation rises 7.9% in February, a new 40-year high
National average price for a gallon of gas is $4.31, according to AAA
The consumer price index climbed 7.9% on an annual basis, according to data released on Thursday by the Bureau of Labor Statistics. Month-over-month, inflation rose 0.8%.
The year-over-year reading is in-line with estimates and compares with an annual 7.5% jump in January, marking the fastest increase since February 1982, when inflation hit 7.6%.
The February data does not include the Russia, Ukraine conflict which have pushed prices at the pump to $4.31 per AAA as of today, a record high.
National average price for a gallon of gas is $4.31, according to AAA
The consumer price index climbed 7.9% on an annual basis, according to data released on Thursday by the Bureau of Labor Statistics. Month-over-month, inflation rose 0.8%.
The year-over-year reading is in-line with estimates and compares with an annual 7.5% jump in January, marking the fastest increase since February 1982, when inflation hit 7.6%.
The February data does not include the Russia, Ukraine conflict which have pushed prices at the pump to $4.31 per AAA as of today, a record high.
Inflation rises 7.9% in February, a new 40-year high
Consumer inflation remains red hot driven by rising energy costs.
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