The Magazine for Asian Investors
According to the U.S. Department of Labor, the consumer price index (CPI) rose 7.9% in February from a year earlier. This is the highest level since January 1982.
The consumer price index rose by 0.8% in February compared with the previous month.
Meanwhile, the core consumer price index (excluding food and energy) rose by 6.4% year-on-year in February.
On a monthly basis, the core consumer price index rose by 0.5%.
More initial jobless claims than expected were filed in the United States last week.
The number of first-time claims for unemployment benefits rose 11,000 to 227,000 last week, the Labor Department said.
Initial jobless claims remain above 215,000, the weekly average before the COVID-19 pandemic in the United States.
The four-week average of the number of Americans filing for initial jobless benefits is a better measure of the labor market.