US consumer price growth surpassed 8 per cent in March, rising at its fastest pace since 1981 following a surge in energy and food prices exacerbated by Russia’s war on Ukraine.
Consumer prices rose 8.5 per cent last month compared with a year ago, marginally above Wall Street’s expectations, the Bureau of Labor Statistics said on Tuesday.
The monthly rise registered at 1.2 per cent, the fastest jump since September 2005 and a sharp acceleration from the 0.8 per cent increase recorded in February.
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