U.S. Inflation reaches highest point in over 40 years

According to the latest data released by the U.S. Bureau of Labor Statistics, inflation in March reached 8.5%.  This means that on average goods and services were 8.5% more expensive on March 2022 than on March 2021.  To put it plainly, $1 in March 2022 dollars will buy you the same amount of goods that $0.92 would get you one year ago.  This is the highest year-over-year inflation rate reported in the U.S since December 1981, over 40 years ago.  It is also worth noting that the year-over-year inflation rate ha been steadily rising since September of last year.