The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on April 13, 2021, 01:11:24 pm
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Prices jump 0.6 percent in March, highest increase since 2012
By Niv Elis - 04/13/21 09:02 AM EDT
The Consumer Price Index, a measure of inflation, increased 0.6 percent in March, its largest monthly increase since August of 2012, according to Labor Department data released Tuesday.
March's reading, an increase from the 0.4 percent recorded in February, brings the unadjusted 12-month total price increase to 2.6 percent, though the comparison point from last year falls after the pandemic walloped the economy and prices temporarily dropped.
One of the biggest drivers of increased prices in March was gasoline, which rose 9.1 percent, accounting for nearly half of the overall jump. Natural gas prices also rose 5 percent. Indexes for food prices rose just 0.1 percent, but items such as cars and trucks, motor vehicle insurance, hospital services, and shelter saw an uptick.
more
https://thehill.com/policy/finance/547859-prices-jump-06-percent-in-march-highest-increase-since-2012
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The real ugly fact that is being squelched is that inflation is on us more than we have seen in a long time. And with Biden The Fool balooning the deficit, it is going to get much much worse.