Inflation in the United States has reached a new 40-year high of 7.9 percent, with further increases likely due to the soaring prices of oil and commodities after Russia's invasion of Ukraine.The consumer price index increased 0.8 percent in February from the month before, for a 7.9 percent gain from a year ago, the Labor Department said on Thursday.It is the largest annual gain since June of 1982. Excluding volatile food and energy, prices rose 6.4 percent, the largest 12-month change since the period ending August 1982.
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