Key inflation gauge hit 6.1% in January, highest since 1982

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(Worthy News) – An inflation gauge that is closely monitored by the jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after ’s invasion of .

The figure reported Friday by the Commerce Department was the largest year-over-year rise since 1982. Excluding volatile food and energy prices, core inflation increased 5.2% in January from a year earlier.

Robust consumer spending has combined with widespread product and worker shortages to create the highest inflation in four decades – a heavy burden for U.S. households, especially lower-income families faced with elevated costs for food, fuel and rent. [ Source: Washington Times (Read More…) ]

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