The recent consumer price index (CPI) release confirmed that U.S. inflation has continued to surge to its highest annual rate in more than 40 years. The latest data have piled pressure on the Federal Reserve to rein in the economy to bring inflation under control.
CPI rose by 0.6 percent over January and has increased by 7.5 percent in annual terms, according to the Feb. 10 release by the Bureau of Labor Statistics (BLS). The last time annual inflation was more than 7.5 percent was in 1982.
