U.S. inflation rate leaps to 8.5%, CPI shows, as higher gas prices slam consumers
April 12, 2022 at 08:36 AM EDT
The rate of U.S. inflation shot up to 8.5% in March for the first time in more than four decades and showed little sign of easing up, explaining the new-found urgency at the Federal Reserve to quickly undo its easy-money strategy.
