![](https://img.etimg.com/thumb/width-600,height-450,msid-89494775,imgsize-81438/us-inflation-hits-highest-level-in-40-years-as-prices-rise-7-5-from-2021.jpg)
US inflation hits highest level in 40 years as prices rise 7.5% from 2021
U.S inflation soared over the past year at its highest rate in four decades, at 7.5% hammering the American consumers, wiping out pay raises and reinforcing the Federal Reserve's decision to begin raising borrowing rates across the economy