Costly inflation climbed even higher to a new four-decade high of 8.5% in March as the Russia-Ukraine war contributed to a record surge in gas prices and exacerbated existing supply chain disruptio…
Costly inflation climbed even higher to a new four-decade high of 8.5% in March as the Russia-Ukraine war contributed to a record surge in gas prices and exacerbated existing supply chain disruptions — forcing Americans to pay even more for basic goods.
National average gas prices hit an all-time high of $4.33 on March 11, though they have since declined, according to AAA data. The alarming inflation data surfaced as the Federal Reserve ramps up its efforts to return to normal market conditions following extraordinary measures taken in response to the COVID-19 pandemic.
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