US inflation highest in 40 years, with no letup in sight
A selection of beef cuts is displayed at a Publix Supermarket, Wednesday, Oct. 20, 2021, in Miami. The Labor Department said Thursday, Feb. 10, 2022, that consumer prices jumped 7.5% last month compared with a year earlier, the steepest year-over-year increase since February 1982. The acceleration of prices ranged across the economy, from food and furniture to apartment rents, airline fares and electricity. (AP Photo/Marta Lavandier)
By CHRISTOPHER RUGABER
AP Economics Writer
WASHINGTON — Inflation soared over the past year at its highest rate in four decades, hammering American consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates across the economy....
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