THE FED JUST SCREWED US!! WHAT NEXT FOR DOGECOIN & CRYPTOCURRENCY!



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THE FED JUST SCREWED US!! WHAT NEXT FOR DOGECOIN & CRYPTOCURRENCY!

U.S. consumers paid more for a variety of goods and services in February compared to the prior month and year, with prices climbing across the economy amid lingering supply and demand imbalances.

The Bureau of Labor Statistics' Consumer Price Index (CPI) rose 7.9% in February compared to last year, marking the fastest annual jump since 1982. This took out January's previous 40-year high rate of 7.5%, and matched consensus economist expectations, according to Bloomberg data.

On a month-over-month basis, consumer price increases also accelerated. The CPI rose 0.8% in February compared to January after increasing by 0.6% during the prior month.

A surge in energy prices was one of the key contributors to the latest red-hot CPI print. Even before Russia invaded Ukraine and raised concerns over global energy disruptions, oil and gas prices were on the rise, as demand for fuel oil and other energy products outstripped tight global supplies. In February, the energy index jumped 3.5% for the largest monthly rise since October. And over last year, the energy index was up 25.6%.

A further impact from the Russia-Ukraine crisis and extended jump in energy prices that has ensued will likely show up in the CPI data in March, given the invasion first began in late February. Since then, gas prices at the pump have jumped to record levels, and crude oil prices have climbed to 14-year highs and at least briefly topped $130 per barrel.

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