Business mogul Kevin O’Leary wants to invest in a US refinery, says fossil fuels will stick around
April 13, 2023
United States inflation rose 8.5% over past 12 months, biggest spike since December 1981
More in Politics:
Inflation has risen at its fastest pace in more than 40 years in the United States. Food, gasoline, housing, and more has increased in price, hurting many American citizens.
According to ABC News, the Labor Department said Tuesday that the consumer price index jumped 8.5% in March from the past year. This is the sharpest year-over-year increase since 1981. From February to March, inflation rose 1.2%, the biggest month-to-month jump since 2005.
Additionally, gasoline prices increased by 48% in the past year, used car prices have increased 35%, bedroom furniture is up 14.7%, with more increases expected.
The inflation has increased as the job market and economy have also increased. In 2021, 6.7 million jobs were added, which is the most in any year on record. Additionally, layoffs are at an all time low since 1968. However, while many Americans have received raises, inflation has destroyed the impact of those raises.
ARTICLE: JILLIAN WEIDNER
MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: LA TIMES
The following two tabs change content below.
I was born and raised in Omaha, NE before moving to Sioux Falls, SD to attend college at Augustana University. This past May I graduated from Augustana with a Bachelor of Arts in Spanish and Biology with an emphasis in Allied Health. I first discovered FBA through my involvement with Turning Point USA where I worked as a Campus Coordinator in college. I have a passion for politics and activism, and was drawn to FBA’s dedication to spreading the truth. Unbiased news is rare in today’s society, so I wanted to be a part of FBA’s mission to change that.
