The March inflation figure issued yesterday in the Bureau of Labor Statistics (BLS) Consumer Price Index (CPI) showed yet another new high, rising 8.5% annually, and marking its biggest percentage gain going back to 1981.
If this trend had not already been occurring then, yes, it would be surprising or cause some sort of head-fake, but that is not the case, as it is something we have been seeing, and dealing with for a while now. What’s more, the March tally topped February’s 7.9% CPI reading, when excluding food and energy prices. While gains, in most instances, are generally viewed as a good thing, it clearly does not apply in this case.