Grocery prices hit a 40 year high: Inflation, Ukraine has costs going up across the board
Americans - and Alabamians - are paying significantly more than they were a year ago for a host of goods and necessities.
But earlier this month, the effect of inflation came into stark relief when the U.S. Bureau of Labor Statistics released figures showing that inflation surged 7.9% in February. Looking at the consumer price index, which measures goods and services, economists saw the fastest acceleration of prices since January 1982.
Alabama has seen record increases in home prices, due not only to inflation but an exceptionally tight market and raging demand. According to the Alabama Center for Real Estate at the University of Alabama,an increase of 18.3% from one year ago and an increase of 1.9% from January.
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