Wholesale inflation in the United States shot up 10% last month from a year earlier — another sign that inflationary pressures remain intense at all levels of the economy.

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Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% in the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.

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An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia's invasion of Ukraine.

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Materials prices have continued to rise into the new year for contractors both in Milwaukee and nationally following a year of steep increases.

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Wholesale inflation in the United States surged again last month, rising 9.7% from a year earlier in a sign that price pressures remain high at all levels of the economy.

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President Joe Biden came into office with a plan to fix inflation — just not the particular inflationary problem that the country now faces.

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Inflation soared over the past year at its highest rate in four decades, hammering America's consumers, wiping out pay raises and reinforcing the Federal Reserve's decision to begin raising borrowing rates across the economy.

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A measure of prices that is closely tracked by the Federal Reserve rose 5.8% last year, the sharpest increase since 1982, as brisk consumer spending collided with snarled supply chains to raise the costs of food, furniture, appliances and other goods.

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The U.S. economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession.

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Prices paid by U.S. consumers jumped 7% in December from a year earlier, marking the highest inflation rate seen since 1982 and the latest evidence that rising costs for food, rent and other necessities are heightening the financial pressures on American households.

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