US inflation increases 7.9% YoY in February, biggest rise in 40 years

Retail inflation in the US rose 7.9%, the biggest YoY rise since January 1982, the US Labor Department reported on Thursday. Monthly rise in US inflation has stayed above the 0.6% mark since October 2021, marking a 0.6% increase in both December 2021 and January 2022 and a 0.8% rise in February. Food Price Index marked a 7.9% YoY increase.