US inflation hit 8.5% in March, up from 7.9% in February and its highest level since 1981.
The US Bureau of Labor Statistics has reported that inflation had "continued to accelerate," with gasoline prices accounting for over half of the increase, rising 18.3% in March. The disparity between the CPI and ‘core CPI' that excludes volatile food and energy price fluctuations has grown particularly wide due to the abnormal rise in gasoline prices. With regards to Core CPI, the BLS said shelter "was by far the biggest factor in the increase," while noting the index for used cars and trucks fell 3.8% over the month, which had been a core driver of inflation over the last year. P...
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