Daily Management Review

U.S. inflation hits 40 years record


Annual inflation in the U.S. in February reached 7.9%. This is the highest in the last 40 years - since January 1982.

Annual inflation in the U.S. reached 7.9 percent in February 2022, according to data released Thursday by the nation's Labor Department. This is the highest since January 1982, which is more than 40 years.

Inflation in the U.S. is rising because of higher gasoline, food and home prices, notes Bloomberg. 

According to economists polled by the newspaper, a further escalation of the Russian-Ukrainian crisis and Biden's decision to refuse Russian oil and gas will lead to a further acceleration of price increases. Earlier analysts had expected inflation to peak in February, now some of them are expecting an increase of more than 8 percent, the agency said. 

It is still unclear exactly how the situation in Ukraine will affect the U.S. economy, but we should expect the rise in prices for oil, grain and metals to affect the price of other goods and, ultimately, consumer prices, Bloomberg says.

source: bloomberg.com