Inflation the US government’s top challenge 1:58 (CNN) — America’s inflation problem did not abate in March. Prices continued to rise, hitting a new 40-year high, data from the Bureau of Labor Statistics showed Tuesday. The Consumer Price Index rose 8.5% for the year to March, unadjusted for seasonal changes, surpassing February’s high reading of 7.9% and matching a level not seen since December 1981. In March , the United States consumer price index, which measures a basket of goods and services, stood at 7.9% in the 12-month period ending in February, without seasonal adjustments, according to what the Office of Labor Statistics at the time. This measure reached its highest level since January 1982 last month. February prices rose 0.8%, adjusted for seasonal fluctuations, more than in January. Gasoline prices alone rose 6.6% and contributed nearly a third of the global rise in inflation. Food prices rose 1% last month, the biggest monthly increase since April 2020.
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