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The annual inflation rate in the US has increased to 7.9% in February 2022. It’s been the highest since January 1982. Energy is the main contributor (25.6% vs.27 in January), with gasoline prices at 38%.
Inflation accelerated for shelter (4,7% vs. 4.4%), food (7.9% vs 7%, the largest since July of 1981), namely food at home (8.6% vs 7.4%); new vehicles (12.4% vs 12.2%); and used cars and trucks (41.2% vs 40.5%).
The CPI rose 6.4%, the most in 40 years, and still, the surge in energy costs because of the war in Ukraine is still to come.
Watch the video below and hear the latest developments: