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March 11, 2022

U.S. Inflation Jumps to 40-Year High
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The Biden administration reports inflation has risen to a level not seen
since 1982. The Labor Department said Thursday the Consumer Price Index
rose by 7.9% over the 12-month period that ended in February. At the
White House, press secretary Jen Psaki said Thursday that U.S. residents
should expect more inflationary pressure in the weeks ahead as bans on
Russian fossil fuels squeeze energy markets.

Jen Psaki: "In terms of prices going up, we do anticipate that gas
prices and energy prices will go up. That is something that the
president has conveyed very clearly to the American public. We also
believe it will be temporary and not long-lasting."



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