Inflation rose in February to 40-year high

(WASHINGTON) — Inflation spiked again last month, increasing 0.8 percent in February after rising 0.6 percent in January, the latest figures released Thursday by the U.S. Department of Labor show.

Compared to February of last year, the Consumer Price Index, which measures the change in prices customers pay for goods and services, is up 7.9%, marking a four-decade high.

The Labor Department said the biggest price hikes were for gasoline, shelter and food.