INFLATION REACHED A NEW 40-YEAR HIGH IN FEBRUARY

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Key Points:

  • The Consumer Price Index (CPI) increased 0.8% in February after rising 0.6% in January.
  • CPI increased 7.9% from a year ago, the highest reading in 40 years.
  • Prices remained above 5% for the ninth straight month.
  • The core CPI, which excludes food and energy, rose 0.6% in February and is up 6.4% from the previous year.
  • The core CPI’s increase of 6.4% is the largest 12-month change in 40 years.
  • The energy index is up 25.6% and the food index is up 7.9% from the previous year.
  • The food index increase of 7.9% is the largest 12-month change since July 1981.
  • The Right Facts will continue to monitor CPI.
Source