BLS Reports US Inflation Reaches a Whopping 7.9%

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So much for “transitory” inflation assurances. Inflation is starting to really bite, and it looks like it’s only going to get worse.

Courtesy of the Federal Reserve’s printing press, the Consumer Price Index officially hit a whopping 7.9%! Of course, we know that true inflation is probably closer to double that number.

From the Bureau of Labor Statistics,

CPI for all items rises 0.8% in February; gasoline, shelter, food indexes rise

In February, the Consumer Price Index for All Urban Consumers rose 0.8 percent, seasonally adjusted, and rose 7.9 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.5 percent in February (SA); up 6.4 percent over the year (NSA).

Have you hugged your gold coins today?