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Inflation Up Highest in 40 Years

May 2, 2022

 

Consumer prices up 8.5% for year ended March 2022

According to the US Bureau of Labor Statistics, the Consumer Price Index increased 8.5% for the year ended March 2022, following a rise of 7.9% from February 2021 to February 2022. The 8.5% increase in March was the largest 12-month advance since December 1981.

Consumer prices for food increased 8.8 percent in March 2022, the largest 12-month advance since May 1981. Within food, prices for food at home rose 10.0 percent and prices for food away from home rose 6.9 percent.

From March 2021 to March 2022, consumer prices for energy increased 32.0%. Prices increased for fuel oil (70.1%), gasoline (48.0%), electricity (11.1%), and natural gas (21.6%) over this period.

Consumer prices for all items less food and energy rose 6.5% for the year ended March 2022. Prices for shelter increased 5.0%, the largest 12-month advance since May 1991.

These data are from the Consumer Price Index program and are not seasonally adjusted. To learn more, see “Consumer Price Index — March 2022.” Also see more charts related to the latest Consumer Price Index news release.

Source:https://www.bls.gov/opub/ted/2022/consumer-prices-up-8-5-percent-for-year-ended-march-2022.htm

If you’re thinking of selling and are curious about the value of your home in today’s evolving real estate market, contact Rebeca Castellon Group today. We would be happy to provide you with a no pressure home valuation and help you reach your real estate goals!

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