Inflation Highest in Four Decades. Surge in Oil, Gas Will Push Inflation Even Higher

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Inflation Reaches New High as Consumer Prices Jump 7.9%, Highest in Four Decades
  • The Department of Labor said that the consumer price index rose 7.9 percent compared with a year ago. Prices were up 0.8 compared with the prior month.
  • This is the ninth straight month of inflation above 5 percent. Prices rose at an annual rate of 7.5 percent in January, jumping 0.6 percent from December.
  • Compared with a year ago, core prices were up 6.4 percent, the fastest pace for this measure since August 1982.
  • Surge in oil and gasoline prices. Those are likely to push inflation even higher in March.

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