While the Biden administration continues to taut a strong economic recovery, inflation continues to climb higher and higher. According to Fox News, the Consumer Price Index rose 7.5% in January, reaching a new 40-year high.
“The consumer price index rose 7.5% in January from a year ago, according to a new Labor Department report released Thursday, marking the fastest increase since February 1982, when inflation hit 7.6%. The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – jumped 0.6% in the one-month period from December,” Fox reports.
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