Saturday, May 08th

Last update12:19:44 AM GMT

You are here News Economy U.S. consumer prices post biggest gain in 8-1/2 years as economy reopens

U.S. consumer prices post biggest gain in 8-1/2 years as economy reopens

E-mail Print PDF

Jerome PowellU.S. consumer prices rose by the most in more than 8-1/2 years in March as increased vaccinations and massive fiscal stimulus unleashed pent-up demand, kicking off what most economists expect will be a brief period of higher inflation.

The report from the Labor Department on Tuesday also showed a firming in underlying prices last month as the broader reopening of the economy bumps against bottlenecks in the supply chain, capacity constraints and higher commodity prices.

Federal Reserve Chair Jerome Powell and many economists view higher inflation as transitory, with supply chains expected to adapt and become more efficient. The supply constraints mostly reflect a shift in demand towards goods and away from services during the pandemic, now in its second year.


Most Recent Related Stories...

U.S. hiring takes big step back; shortages of workers, raw materials blamed

US hiring takes big step backwards U.S. job growth unexpectedly slowed in April, likely restrained by shortages of workers and raw materials...

IRS chief says some $1T in taxes going uncollected annually

IRS Commissioner Charles Rettig The amount of taxes going uncollected by the federal government could be as much as $1...

Forgiving $50K in school loans would free 36 million student borrowers from debt: data

Elizabeth WarrenMore.than 36 million people would be freed from debt if the Biden administration cancels $50,000 in student...

An Accidental Disclosure Exposes a $1 Billion Tax Fight With Bristol Myers

Bristol Meyers owes $1B in taxesAlmost nine years ago, Bristol Myers Squibb filed paperwork in Ireland to create a new offshore...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!