Consumer prices in the United States rose 8.5% in March compared to a year prior, the biggest increase since late 1981, the Labor Department reported.
compared to a year prior, the biggest increase since late 1981, the Labor Department reported Tuesday. compared to a year prior, the biggest increase since late 1981
Inflation, which had been largely under control for four decades, began to accelerate last spring as the U.S. and global economies rebounded with unexpected speed and strength from the brief but devastating coronavirus recession that began in the spring of 2020 The food index in particular rose 8.8%, outstripping the overall inflation figure, representing the largest 12-month increase since May of 1981, according to the Labor Department. Housing costs, which make up about a third of the consumer price index, have also escalated.
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