Inflation Hits Highest Rate in 40 Years

Inflation Hits Highest Rate , in 40 Years.

On Feb.

9, the Labor Department reported that the Consumer Price Index rose 7.5% from one year ago.

CBS News reports that's the largest increase since 1982.

Core inflation, which doesn't include food and energy costs, was 6%.

Last month, the prices of food, energy and housing increased the fastest.

Last month, the prices of food, energy and housing increased the fastest.

Last month, the prices of food, energy and housing increased the fastest.

Gasoline rose 40% year-over-year, food is up 7.4% and housing has increased 4.4%.

Gasoline rose 40% year-over-year, food is up 7.4% and housing has increased 4.4%.

Gasoline rose 40% year-over-year, food is up 7.4% and housing has increased 4.4%.

[The inflation readout] is just another reminder of the intense cost of living pressure that so many are under and the negative economic consequences of that, Peter Boockvar, chief investment officer with Bleakley Advisory Group, via CBS News.

CBS News reports the shipping issues at ports and warehouses around the world continue to contribute to the inflation surge.

CBS News reports the shipping issues at ports and warehouses around the world continue to contribute to the inflation surge.

The Federal Reserve plans to raise interest rates up to four times this year to stifle price increases, .

But Wall Street analysts think price increases will be prominent for some time, especially since the labor market continues to struggle.

But Wall Street analysts think price increases will be prominent for some time, especially since the labor market continues to struggle.

An analysis by Wells Fargo concludes middle-class citizens have been hit the hardest