Inflation also rose 0.8 percent between January and February, according to the Labor Department.
Before Russia invaded Ukraine, consumer prices were already on the rise because of supply chain problems, strong consumer spending and higher wages for American workers. The war, which has spurred a U.S. ban on Russian oil imports and a host of severe economic sanctions from the U.S. and other nations, already appears to be bolstering the prices trend.
U.S. consumer inflation increased 7.9 percent in the 12 months that ended in February, the biggest jump since 1982. Above, the price for a gallon of regular-grade gasoline is shown on a digital sign at a Denver service station on Wednesday.The rise in consumer prices has coincided with a rise in pay for many American workers amid a worker shortage that has led many employers to offer incentives like better wages and benefits.
"The change in real average hourly earnings combined with an increase of 0.3 percent in the average workweek resulted in a 2.3-percent decrease in real average weekly earnings over this period," the department said.
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