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Annual Inflation in US in March Hits 8.5%, Reaching Highest Point Since 1981, Labour Dept. Says
Annual Inflation in US in March Hits 8.5%, Reaching Highest Point Since 1981, Labour Dept. Says
Sputnik International
Energy prices rose 32.0 percent over the previous year, while the food index increased 8.8 percent, the largest 12-month increase since May 1981, the... 12.04.2022, Sputnik International
2022-04-12T12:34+0000
2022-04-12T12:34+0000
2022-08-06T13:36+0000
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US inflation has set a new 40-year high in March as the consumer price index rose by 8.5% over last year, the US Labour Department said on Tuesday.In the year to February, US consumer prices rose by 7.9%, which was also a 40-year high, following a four-decade record of 7.5% in January. Previously, polls suggested that the response by the Biden administration to the inflation issue was among the key reasons of its low rating: at least 69% of respondents said they disapprove of the president's handling of the matter.The wave of inflation comes a year after President Biden signed a $1.9 trillion legislative package, which stipulated $1,400 relief checks for most households.Americans are facing high inflation amid a hike in fuel prices, with the average cost for gasoline surging well above $4 across the country.
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Annual Inflation in US in March Hits 8.5%, Reaching Highest Point Since 1981, Labour Dept. Says
12:34 GMT 12.04.2022 (Updated: 13:36 GMT 06.08.2022) Energy prices rose 32.0 percent over the previous year, while the food index increased 8.8 percent, the largest 12-month increase since May 1981, the department added.
US inflation has set a new 40-year high in March as the consumer price index rose by 8.5% over last year, the US Labour Department said on Tuesday.
"The all items index continued to accelerate, rising 8.5 percent for the 12 months ending March, the largest 12-month increase since the period ending December 1981", the statement read.
In the year to February, US consumer prices rose by 7.9%, which was also a 40-year high, following a four-decade record of 7.5% in January.
Previously, polls suggested that the response by the Biden administration to the inflation issue was among the key reasons of its
low rating: at least 69% of respondents said they disapprove of the president's handling of the matter.
The wave of inflation comes a year after President Biden signed a $1.9 trillion legislative package, which stipulated $1,400 relief checks for most households.
Americans are facing high inflation amid a
hike in fuel prices, with the average cost for gasoline surging well above $4 across the country.
