Economic Report: Peak inflation? The worst may be over, but Americans likely to keep paying a high price


The 8.5% surge in the cost of living in the past year could represent the peak of the worst U.S. inflation in 40 years — but Americans can’t expect much relief from rising prices this year or even next.

The rate of inflation has jumped more than six-fold in past 14 months from as low as 1.4% at the beginning of 2021. The cost of fuel, food, housing, cars and all sorts of stuff have soared.


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