Consumer Price Index continues to break its own record
The Consumer Price Index was released this morning and shows inflation at 8.5 percent, which is a tenth of a point higher than the market was expecting.
It is up significantly from February when 7.9 percent was a 40 year high. Not surprisingly, the largest contributor was energy, with gas increasing 18 percent.
Even taking food and energy out of the equation, the number is still high at 6.5 percent, that is the largest number since 1982.