(BLS) US inflation rose by a higher 1.2% in March, after rising another 0.8% in February on the back of escalating energy prices.
Following the higher monthly increases, the US inflation hit an annual gain of 8.5%, the highest 12-month gains since the period ending December 1981.
The gasoline index was the main driver of inflation, with a monthly surge of 18.3% in March. The food index gained 1.0%, while the food at home gauge increased by 1.5%.
The energy index was up by 32.0% on an annual basis, while the food index ticked higher by 8.8%, the largest 12-month gain since the period ending May 1981.
Less food and energy, the consumer prices rose by a monthly 0.3% in March, slower than an increase of 0.5% in February. The index was up by an annual 6.5% in March, the largest annual increase since August 1982.
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