U.S. inflation over the past year registered at a more than two-and-a-half-year high and consumer prices in March posted their biggest increase in more than eight and a half years, according to a government report released Tuesday, April 13.
Energy prices compared to a year ago increased for a second time following 11 consecutive declines. The over 13% surge is obviously significant. Then again, year-over-year pricing changes for many items, like energy, is somewhat skewed as consumer spending was impacted significantly in March 2020 due to the pandemic and resulting shutdowns. Continue reading U.S. Inflation Hits 2 1/2-Year High; Consumer Prices in March Log Biggest Gain in 8 1/2 Years