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12 April, 2022

Inflation rose at fastest pace consumer prices jumped 8.5% annually

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Consumer prices climbed further into the stratosphere in March and the only consolation is that the painful bout of skyrocketing costs may have peaked.

Worried about inflation?

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Gasoline prices were the chief culprit, jumping 18.3% and accounting for more than half the overall rise in costs.

What causes inflation?

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Average unleaded gas set a record $4.33 a gallon last month before easing to $4.11 by Monday, according to AAA. Pump prices were up 48% from a year earlier.

What causes inflation?

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Breakfast cereal prices rose 2.4% monthly and 9.2% from a year ago. Rice, pasta and cornmeal increased 2.8% monthly and 9.3% annually.

Why are food prices going up?

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A fading pandemic should help ease supply snarls and labor shortages this year, economists have said.

How can we fix inflation?

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