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In June 2021, the national average price for a gallon of gas was $3.09, according to data from AAA, but as of June 2022, it had topped $5. That marks a gain of over 60% in a single year.
Price of a gallon of gas: $3.27 In 2022 dollars: $4.30 This article originally appeared on GOBankingRates.com : Rising Gas Prices: How Inflation Has Impacted Gas Prices Over the Years
The November Consumer Price Index brought merry news for American drivers, as the gasoline index declined 2.0% from the previous month after rising 4.0% in October, according to the latest CPI data...
Inflation was still red hot in August, despite a sharp drop in gas prices. The Bureau of Labor Statistics (BLS) released its Consumer Price Index (CPI) on Sept. 13 and the all-items index for the ...
July 2024 data showed that the inflation rate had dropped to 2.9%, the lowest since March 2021, with used car prices returning to normal following the 2020–2023 global chip shortage. [182] Increases in rent, [183] childcare [184] and electricity [185] still outpaced inflation at around 5%.
In 2021-22, gasoline and diesel prices surged in the United States, reaching record highs, as part of a larger trend of inflation. [36] The average price of regular gasoline rose from $1.773 during the week of April 27, 2020, to $5 as of June 11, 2022, an all-time high. [37] California led the nation in gas prices with an average gallon of ...
On an annualized basis, gas prices fell 10.3% while the energy index dropped 4%. The Consumer Price Index (CPI) rose 2.5% over the prior year last month, decelerating from July's 2.9% annual gain.
Excluding gas and food prices, categories that tend to be more volatile, “core” inflation rose 0.4% from the month before, bringing its annual rate to 3.8%, a slowdown from 3.9% in January.