US barreling toward recession, experts say, as inflation hits 40-year-high

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Inflation hit a 40-year high in February, and the worst is yet to come as the U.S. economy barrels toward a recession, experts say.

The consumer price index (CPI) climbed 7.9% on an annual basis, according to data released Thursday by the Bureau of Labor Statistics. Month over month, inflation rose 0.8%.

Gas jumped 6.6% in February and accounted for almost a third of price hikes. Food rose by 1%.

The February data does not include Russia’s war on Ukraine, which has accelerated the rise in gas prices. As of Thursday, the U.S. national average hit a record high of $4.35 per gallon.


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Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!