The Consumer Price Index (CPI) rose 7.9% in the US between March 1 2021 and February 28 2022 (12 months) as this publication of the Bureau of Labor Statistics shows. The CPI continues to increase its rate. This represents a 40 year high. The last time this index was higher was in January 1982 (reference). In February, the CPI increased 0.8%. This represents an acceleration of the month to month inflation compared to January 2022
The main contributors of the increase were used autos and energy as in the previous month. The price of used cars grew 41.2% and price of energy increased 25.6% in the past 12 months and within this increase, gasoline increased 38% and fuel oil 43.6% .
Regarding the month to month CPI increase, it resumed its acceleration. This is not taking into account the geopolitical events of the end of February and the subsequent increase in oil and gasoline prices
It is expected that the yearly CPI change with continue to increase throughout 2022.
Previous posts regarding the inflation rate
- July 15, 2021. Inflation Peaks as CPI Rises 5.4%
- September 12, 2021. 12-Month Percent Change in CPI is 5.4% in July 2021
- September 15, 2021. 12-Month Percent Change in CPI is 5.3% in August 2021
- October 13, 2021. 12-Month Percent Change in CPI is 5.4% in September 2021
- November 10, 2021. 12-Month Percent Change in CPI is 6.2% in October 2021
- December 10, 2021. Inflation Rate at 6.8% (Annual Rate), Will it Continue to Climb?
- January 12, 2022. Inflation Rate at 7.0% (Annual Rate), it Continues to Rise
- February 10, 2022. The Consumer Price Index (CPI) rose 7.5% in the US in the last 12 months