(TheRedAlertNews.com) – BREAKING NOW: In the latest sign of just how bad inflation has become in the United States of America, the Consumer Price Index for February rose 7.9% from a year ago, the highest level since January 1982 when Ronald Reagan was the president and the nation was still recovering from the economic woes of the Jimmy Carter presidential administration.
As CNBC reports this morning:
“Inflation grew worse in February amid the escalating crisis in Ukraine and price pressures that became more entrenched.
“The consumer price index, which measures a wide-ranging basket of goods and services, increased 7.9% over the past 12 months, a fresh 40-year high for the closely followed gauge, according to the Labor Department’s Bureau of Labor Statistics.
“The February acceleration was the fastest pace since January 1982, back when the U.S. economy confronted the twin threat of higher inflation and reduced economic growth.” [emphasis added]
And, the real kicker:
“The rise in inflation meant worker paychecks fell further behind despite what otherwise would be considered strong increases.” [emphasis added]
This is a breaking news alert from Red Alert News.
BREAKING: Inflation rose 7.9% in February, the fastest pace of acceleration since January 1982 – CNBC
— Breaking911 (@Breaking911) March 10, 2022