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    Consumer prices rise again in February, likely headed higher amid Russian war in Ukraine

    by Eli Stokols and Don Lee, Los Angeles Times Mar 10, 2022 4 minutes
    Gas prices of more than $7.00 per gallon are posted at a downtown Los Angeles gas station on March 9, 2022.- On March 9, the American Automobile Association reported that $4.252 was the new national price average for a gallon of regular gas, breaking the record for the 2008 peak of $4.103 a gallon.

    WASHINGTON — In a development that cast a dark shadow over an otherwise strong economy, inflation surged in February to a new four-decade high with the cost of gasoline and other consumer goods and services climbing at an accelerating pace.

    The Consumer Price Index rose 0.8% in February from January, pushed up by sharp increases in costs for energy and food, according to the Bureau of Labor Statistics report issued Thursday.

    The February gain would translate into a 7.9% increase in inflation for the year, which is the highest since the 12-month period ending January 1982.

    The rise in inflation, a trend that began nearly a year ago, will likely be exacerbated by Russia’s war

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