Annual Consumer Price Index sees largest increase since 1982

WASHINGTON, D.C. – The latest economic numbers out of Washington show inflation is still on the rise.

According to the U.S. Bureau of Labor Statistics, the Consumer Price Index increased 0.8% in February. That equals a 7.9% increase over the last 12 months.

Increases in costs for gasoline, housing and food were the largest contributors to that increase, with the gas index rising 6.6% in February alone.

Also, the Labor Department released its weekly numbers Thursday showing a slight increase of first-time applications for unemployment benefits.

Jobless claims rose by 11,000 to 227,000 last week.

In total, 1,474,000 Americans were collecting jobless aid the week that ended February 26th.