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4/12, 2:31 PM (Source: TeleTrader)
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US inflation soars to record 8.5% in March

The annual growth of consumer prices in the United States reached a new record high of 8.5% before seasonal adjustment, according to a report published by the Bureau of Labor Statistics on Tuesday. The monthly inflation hit market estimates at 1.2%.

The largest contributors to inflation were increases in gasoline (18.3%), shelter (1.5%) and food prices (1%). The annual inflation reached the highest level since the period ending December 1981, with energy prices expanding by an additional 11% last month.

Baha Breaking News (BBN) / ND