Inflation Jumps 8.5 Percent, Aided by Russia’s Ukraine Invasion

Consumer inflation jumped 8.5 percent in March, compared with a year earlier, increasing at its fastest rate in more than 40 years.

The Labor Department’s report, released Tuesday, also showed that inflation increased 1.2 percent from February to March, a sharper uptick than the 0.8 percent increase from January to February.

March’s inflation report is the first to reflect the full impact of the Russia-Ukraine war on prices for gasoline, food and other necessities in the U.S., the Associated Press reported.

This is a developing story and will be updated as more information becomes available.

Consumer inflation jumped 8.5 percent in March, compared with a year earlier, increasing at its fastest rate in more than 40 years. Above, gas prices at a station in Rolling Meadows, Illinois, on April 1.
Nam Y. Huh/AP Photo

Inflation Jumps 8.5 Percent, Aided by Russia’s Ukraine Invasion
Source: Gwapo Pinoys PH

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