The latest report released by The U.S. Bureau of Labor Statistics states that inflation in the month of April 2022 is up to 8.3%. Meaning that goods and services were 8.3% more expensive in April 2022 than in April 2021. This year’s rate almost doubled the rate of April 2021 when it was 4.2%. Also, the rate for April 2022 follows the highest year-over-year rate of inflation recorded for over 40 years, 8.5% in March 2022. The circumstances that caused the rise seem to still be present in the month of April 2022, because when compared March 2022 the inflation rate only decreased by 2.4% or 0.2 percentage points.
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