The Consumer Price Index (CPI) increased 0.8% in February, bringing the key inflation indicator’s year-over-year increase to 7.9%, the U.S. Bureau of Labor Statistics (BLS) reported.
The CPI reached another four-decade high throughout February, with prices increasing nearly 8% on a year-over-year basis, the BLS reported Thursday. Economists surveyed by The Wall Street Journal projected the index to have grown just 7.8%.
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