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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by Breitbart:

WASHINGTON (AP) — U.S. consumer prices increased a sharp 0.6% in March, the biggest uptick since 2012, while inflation over the past year jumped 2.6%. The big gains had been anticipated and are largely expected to be a temporary blip rather than a reawakening of long dormant inflation.

The increase in the Labor Department’s consumer price index Tuesday followed a 0.4% increase in February and was the biggest one-month gain since a 0.6% bump in August 2012.

The article goes on to state the following:

The year-over-year increase was far greater than the 1.7% increase for the 12-month change the previous month and while it easily exceeded the Federal Reserve’s 2% target for inflation, the 2.6% increase in March was more of a snapshot of a period of time last year when prices tumbled as much of the world went into a pandemic lockdown.

As of now, the Fed does not expect to raise interest rates unless inflation goes over a 2% rate and holds for a sustained time period.

Anchor Greta Wall tweeted Tuesday, “U.S. consumer prices rise at the fastest pace in 2.5 years @USDOL Consumer Price Index rose 0.6% month-to-month in March vs 0.5% expected, surged 2.6% year-over-year vs 2.5% expected That was the sharpest annual gain since August 2018. Gas prices surged 9.1% monthly, 22.5% from a year ago. Food costs rose 0.1% monthly, 3.5% year-over-year. Costs at restaurants rose 3.7% annually. Costs for “limited services meals” – pickup, take out, delivery – rose at a record 6.5%. Core CPI rose 0.3% monthly, 1.6% YoY.”

Banker Mark Hamrick tweeted, “Gasoline prices pace the rise of the Consumer Price Index, with retail prices UP 2.6% over the past year (compared to depressed levels). Core, excluding food and energy, UP 1.6% over the past year.”

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To get more information about this article, please visit Breitbart.

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6 COMMENTS

  1. I cannot wait until the really big increases in prices come along for all of the money the Biden admin is printing. Sad how stupid Americans are. Tell them you’ll give them a fish to feed them for a day is what they want to hear, but tell them you will teach them how to fish to support themselves and they will tell you to buy them a boat. Sickening bunch a ferals!

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