Comment on U.S. inflation jumped 7.5% in the past year, a 40-year high

U.S. inflation jumped 7.5% in the past year, a 40-year high

WASHINGTON — Inflation soared over the past year at its highest rate in four decades, hammering America’s consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates across the economy. The Labor Department said Thursday that consumer prices jumped 7.5% last month compared with 12 months earlier, the steepest year-over-year increase since February 1982.

 

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