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During the COVID-19 lockdown, demand shifts during the pandemic towards many home-related goods outpaced supply, contributing to inflation. [ 30 ] [ 31 ] Demand for groceries has continued to be high after the pandemic as people's habits have changed, which is one of the factors pushing up grocery prices into 2024. [ 32 ]
On Friday, the government reinforced that message with its report that the consumer price index soared 6.8% last month from a year earlier — the biggest 12-month jump since 1982. At the ...
For the 12 months ending in January, inflation amounted to 7.5% — the fastest year-over-year pace since 1982 — the Labor Department said Thursday. Consumers felt the price squeeze in everyday ...
Annual inflation in the Tampa metro area surged to an all-time high of 11.3% in 2022, and the region continued to have one of the highest inflation rates the following year.
Now, most economists expect inflation to remain elevated well into next year, with demand outstripping supplies in numerous areas of the economy. ... 800-290-4726 more ways to reach us.
The inflation of the 1970s and early 1980s peaked at 14.8% in March 1980 before the Fed exorcized high prices with aggressive rate hikes that caused brutal back-to-back recessions in 1980 and 1981 ...
BLS data published Tuesday showed that motor vehicle maintenance and repair costs in U.S. cities increased 6.2% last month compared to a year earlier, outpacing inflation's year-over-year increase ...
For the 12 months that ended in March, consumer prices rocketed 8.5%. Now, most economists expect inflation to remain elevated well into next year, with demand outstripping supplies in numerous ...