Prices on everyday items are climbing at the fastest pace in 40 years as the annual rate of inflation in the U.S. continues to rise.
Derek Hall | NJ Advance Media for NJ.com
New Jersey residents are grappling with rapidly climbing costs on a range of everyday items as inflation hits levels that haven’t been seen in decades. The annual rate of inflation in the U.S. accelerated to 7.9% in February, the largest increase since January 1982, driven by soaring prices for gas, food and shelter.
The strain on personal finances threatens to put a damper on New Jersey’s ongoing economic recovery, and inflated costs for basic necessities have placed a spotlight on income inequality nationwide. Note to readers: if you purchase something through one of our affiliate links we may earn a commission.
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