The consumer price index increased 8.5% in March from a year ago, a 41-year high
* The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
* Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
* Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
* Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
* But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'
Inflation in the US has hit a 41-year high of 8.5 percent, as soaring gasoline and housing costs punish consumers and erase gains from higher wages.
The inflation data released on Tuesday is the first report to capture the full effect of Russia's invasion of Ukraine, which sent gas prices skyrocketing 49 percent in March, compared to the same time a year ago.
Rising housing costs, which make up about a third of the consumer price index, are also fueling inflation as rents soar across the country.
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WNU Editor: So much for all that talk last year from top US leaders that this inflation was transitory.
U.S. Inflation Hits A 41-Year High Of 8.5 Percent
Consumer prices rose 8.5% in March, slightly hotter than expected and the highest since 1981 -- CNBC
Consumer price inflation hit a new 40-year high in March -- CNN
Inflation surges 8.5% in March, hitting a new 40-year high -- FOX News
Inflation Soared to 40-Year High of 8.5% in March -- US News and World Report
5 comments:
The path to 8.5% inflation started on day one of the Biden admin 15 months ago. When Biden cancelled the pipeline being built to move oil from Canada. When Biden cancelled offshore and ANWR exploration. When Biden increased regulations and decreased available leases from 36,000 to 9,000. When Biden green lighted Nordstream 2.
Putin saw an opportunity he couldn't pass up - with $100+ bbl filling his war chest for over a year, and a currency based on commodities and backed by actual gold - an incompetent US president - he invaded Ukraine.
BECAUSE,
BIDEN,
R,
If only it was 8.5%.
All that while lifting all tariffs on China. worst President in the history of America. I'm betting they installed him so he can be there fall guy when they crash our country. Ant no way the gut lives out his term he is brain dead .
Biden isn't the only one who stands behind this tidal wave of economic incompetence. It's a generation or more of ignorance coming out of schools and their demands, in my opinion.
Cost of living is independent of inflation and it is up over 40% on top of this.
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