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.
U.s. Inflation Jumped 7.5% In The Past Year, A 40-year High
Christopher S. Rugaber, Denver Post: Business
Thu, 02/10/2022 - 7:18am
Topics: washington inflation federal reserve s the labor department february shortages september ports los angeles long beach president joe biden democrats the fed jerome powell we john hartung executives starbucks levi strauss san francisco-based right ceo chip bergh national federation independent business related articles house u.s colorado s pandemic more bill dunkelberg nfib s pennsylvania s wharton school ap business writers dee-ann durbin detroit anne d innocenzio new york in fed december january october a powell march chipotle levi s us co colorado jumped year high prices costs companies economy rates rising rate raising raise small pay month credit increases wages price report raised workers investors supplies company consumer raises borrowing consumers economists gas food chief americans owners remain record supply risk beef
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