“Double-digit CPI inflation later this spring is a stretch, but it can’t be ruled out,' warns one economist.
released Tuesday by the Labor Department, climbing at the quickest pace in four decades following an unprecedented surge in gas prices last month spurred by Russia’s invasion of Ukraine.... [+]Overall prices rose 1.2% from February—higher than the 1.1% economists were expecting and the previous month’s increase of 0.8%.
The overall increase was the result of broad upticks across gasoline, shelter and food prices, the government said, pointing out a 18.3% monthly increase in the price of gas accounted for over half of the overall increase.
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