The Labor Department’s March inflation numbers released this month skyrocketed past February’s, hitting a 12-month increase of 8.5 percent and the steepest annual increase since 1981.
Wholesale inflation rose 11.2% annually in March, driven largely by an increase in the price of gasoline, the Bureau of Labor Statistics reported on Wednesday.
Pesident Joe Biden’s 40-year-high inflation will cost American households on average an extra $5,200 in 2022, or $433 per month, according to Bloomberg.
er of unemployed people per job opening hovered at record-low levels in February, a new sign of the difficulty employers face in hiring and retaining workers.
Goods and services around the country are becoming increasingly more expensive, but farmers may be among the hardest hit as inflation, supply chain issues, and Russia’s invasion of Ukraine are expected to send food prices soaring even higher.