in the US has reached the highest level since 1981, prompting flashbacks to an era in which President Ronald Reagan had just taken office on a campaign vow to rein in soaring prices.
The Labor Department said on Tuesday that the consumer price index increased 8.5 percent in March from a year ago, the highest inflation level since December 1981.
Back in 1981, a gallon of gas cost $1.38, and sits at an eye-watering $4.22 today. But the price from 40 years ago was itself a sharp rise from $1.22 the year earlier, and was double the $0.70-a-gallon recorded just three years prior, in 1978.
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