Prices jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.
WASHINGTON — 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.
The increase reported Thursday by the Labor Department reflected the 12 months ending in February and didn't include most of the oil and gas price increases that followed Russia's invasion of Ukraine on Feb. 24. Since then, average gas prices nationally have jumped about 62 cents a gallon to $4.32, according to AAA.
National News Calls to suspend gas taxes across U.S. grow as prices surge Even before the war further accelerated price increases, robust consumer spending, solid pay raises and persistent supply shortages had sent U.S. consumer inflation to its highest level in four decades. What's more, housing costs, which make up about a third of the government's consumer price index, have risen sharply, a trend that's unlikely to reverse anytime soon.
People are also reading… The government's report Thursday also showed that inflation rose 0.8% from January to February, up from the 0.6% increase from December to January. Full story here:ECONOMY BY THE NUMBERS 7 charts tracking the US economy Tags Be the first to know Get local news delivered to your inbox!
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Biden bans Russia oil imports to U.S., warns U.S. gasoline prices will rise furtherU.S. President Joe Biden announced a ban on Russian oil and other energy imports on Tuesday in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up U.S. energy prices.
Weiterlesen »
Record gas prices: Journalists, celebrities offer ‘tone deaf’ opinions on oil, energy as fuel prices surgeJournalists, pundits and liberal celebrities are spouting “demeaning and insulting” hot takes on oil and gas as record fuel prices shock average Americans.
Weiterlesen »
Electric car prices could go up even as fuel prices soarBatteries aren’t cheap, even in the best of times.
Weiterlesen »
Gas prices: California has highest prices, Oklahoma has lowestThe Democratic-led states of California, Washington, Nevada, Oregon, Illinois, Pennsylvania and New York have the highest gas prices in the country.
Weiterlesen »
Gas prices: California has highest prices, Oklahoma has lowestGas prices in California are skyrocketing to record highs - but which state has the lowest right now? If you're looking for cheaper gas, you'll have to travel to Oklahoma.
Weiterlesen »
Calls to suspend gas taxes across U.S. grow as prices surgeStates across the U.S. are discussing ways to lower or suspend gas taxes, but it has not proved easy, since much of that money goes toward repair of roads and bridges.
Weiterlesen »