The highest level of inflation in over 40 years is hitting Americans hardest in areas where it’s difficult to make cuts.
There are three factors that could lead to inflation which include demand-pull inflation, cost-push inflation and built-in inflation.
A 48% rise in gas prices. A staggering 35% jump in the cost of used vehicles. Inflation has climbed to its highest level in more than 40 years, and it’s hitting Americans hardest in areas where it’s difficult to make cuts: gas, food and utilities. The Labor Department said this week that its consumer price index jumped 8.5% in March from 12 months earlier, the sharpest year-over-year increase since 1981.
Prices have been driven up by bottlenecked supply chains, strong consumer demand and disruptions to global food and energy markets worsened by Russia’s war against Ukraine. Even if you toss out food and energy prices — which are notoriously volatile and have driven much of the price spike — core inflation jumped 6.5%.Gasoline: 48%
The March inflation numbers were the first to fully capture the surge in gasoline prices that followed Russia’s invasion of Ukraine on Feb. 24. Moscow’s attacks have triggered far-reaching Western sanctions against the Russian economy and disrupted food and energy markets. The average price of a gallon of gas — $4.10 as of Tuesday — is up 43% from a year ago, though it's dipped in the past couple of weeks.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
UK Inflation Hits 30-Year High of 7% as Energy Prices SurgeU.K. inflation came in at an annual 7% in March, its highest since for 30 years.
Les mer »
Inflation Hits 40-Year High—Spiking 8.5% In March As Ukraine Invasion Fuels Oil Prices“Double-digit CPI inflation later this spring is a stretch, but it can’t be ruled out,' warns one economist.
Les mer »
Retail Sales Rose 0.5% in March Amid Inflation Jump; Import Prices Hit 11-Year HighRetail sales were expected to increases 0.6% in March, according to Dow Jones estimates.
Les mer »
Retail sales rise 0.5%, but high gas prices and inflation take bite out of U.S. householdsSales at U.S. retailers rose a tepid 0.5% in March and a large part of the increase reflected higher gasoline prices, suggesting inflation is taking a toll...
Les mer »
Biden blames 'Putin's price hike,' says gas prices shouldn't depend on 'genocide'President Joe Biden traveled to Iowa Tuesday to announce new efforts to bring down gas prices for Americans as the annual rate of U.S. inflation came in at 8.5% in March.
Les mer »
Inflation Surges Again, But Markets Watch Medium-Term ProspectsThe U.S. inflation rate once again hit a 40-year high in March at 8.5% as energy and food prices surged, but what's next?
Les mer »