The numbers: Inflation in the United States surpassed 8% for the first time in four decades in March, with little signs of abating, explaining the Federal Reserve's renewed urgency to reverse its easy-money policy.
According to the government, the consumer price index increased by 1.2 percent last month, owing to rising fuel, food, and housing costs. Since Hurricane Katrina in 2005, it was the highest monthly growth.
For months, the cost of living has been rising to new highs. Inflation increased to 8.5 percent in March from 7.9 percent the previous month.
Inflation hit 8% for the first time in January 1982, while Ronald Reagan was president.
The United States has been disturbed by high inflation, which has pushed up the cost of living.
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