CNBC Make It reports that consumer prices have jumped by 7.9 percent over the past 12 months, and one category accounts for more than a third of that increase.
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The consumer price index went up by 0.8 percent in February, according to the Labour Department.
According to CNBC, the year-over-year increase in prices "was the highest in 40 years," but was predicted by analysts.
Price Changes From February '21 to February '22
| ITEM | % Change From Feb '21 To Feb '22 |
|---|---|
| Gas | 38% |
| Hotels | 29% |
| Rental Cars | 24.3% |
| Furniture & Bedding | 17.1% |
| Pork | 14% |
| Meats, Poultry, Fish & Eggs | 13% |
| Airline Fares | 12.7% |
| New Vehicles | 12.4% |
| Major Appliances | 11.1% |
| Margarine | 11% |
| Tax Preparation Services | 9.8% |
| Fruits & Vegetables | 7.6% |
| Shelter | 4.7% |
| Beer | 3.7% |
Source: U.S. Labor Department/CNBC Make It
Read more at CNBC Make It
Image courtesy Gene Gallin
