The cost of consumer goods increased a whopping 8.5 percent in March compared to a year ago, the Labor Department reported Tuesday. The agency’s Consumer Price Index report also showed consumer prices from February to March increased 1.2 percent, the sharpest monthly jump since 2005. The year-over-year increase was the highest in approximately 40 years, […]
The cost of consumer goods increased a whopping 8.5 percent in March compared to a year ago, the Labor Department reported Tuesday.
The agency’s Consumer Price Index report also showed consumer prices from February to March increased 1.2 percent, the sharpest monthly jump since 2005.
The year-over-year increase was the highest in approximately 40 years, Just the News reports.
Analysts project the rate of inflation over one year ending March would be 8.4 percent - the fastest inflation since December of 1981. The March rate also passed the year-over-year increase of 7.9 percent in February, which set a 40-year record.
