National inflation jumps to 40-year high at 7.9% in February, Seattle area at 8.1%

WASHINGTON D.C., March 10, 2022 – Today, the U.S. Bureau of Labor Statistics announced that consumer inflation rose by another 0.8 percent in February after rising 0.6 percent in January, bringing national inflation to 7.9 percent over the last 12 months — the highest jump since January 1982. Inflation of food is the highest it has been since July 1981.

Increases in gasoline, shelter, and food were the largest contributors to the increase. Gasoline rose 6.6 percent in February and accounted for almost a third of all the items monthly increase. Food rose 1.0 percent as the food at home index rose 1.4 percent; both were the largest monthly increases since April 2020.

february inflation

The 12-month increase has been steadily rising and is now the largest since the period ending January 1982. The all items less food and energy index rose 6.4 percent, the largest 12-month change since the period ending August 1982. The energy index rose 25.6 percent over the last year, and the food index increased 7.9 percent, the largest 12-month increase since the period ending July 1981.

To read the full 37-page report, click here.

Below is a by monthly percent change in inflation:

february inflation
Chart 1. One-month percent change in CPI for All Urban Consumers (CPI-U), seasonally adjusted, Feb. 2021 – Feb. 2022. Source: U.S. BLS.

Below is a cumulative by month percent change in inflation:

february inflation
Chart 2. 12-month percent change in CPI for All Urban Consumers (CPI-U), not seasonally adjusted, Feb. 2021 – Feb. 2022. Source: U.S. BLS

To read last month’s inflation report released by BLS, click here.

Seattle Area Inflation

Consumer inflation data released today for the Seattle-Tacoma-Bellevue metropolitan area comprises of King, Pierce, and Snohomish Counties in the State of Washington, according to the U.S. Bureau of Labor Statistics.

Prices in the Seattle area rose 1.7 percent over the last two month ending February 2022. Regional Commissioner Chris Rosenlund noted that the February increase was influenced by higher prices for shelter and food.

Over the last 12 months, the Seattle area experienced an 8.1 percent inflation for month ending in February 2022. Food prices increased 9.8 percent. Energy prices jumped 21.9 percent, largely the result of an increase in the price of gasoline. The index for all items less food and energy rose 7.0 percent over the last 12 months.

To read the full 5-page report, click here.

february inflation

Mario Lotmore

Mario Lotmore is originally from The Bahamas and for the last seven years has called Mukilteo, WA his home. Having lived in every region of the United States has exposed him to various cultures, people, and approaches to life. Lotmore created the Lynnwood Times to represent the character of a diverse and growing Lynnwood. The launching of the city’s community newspaper will only help bring neighborhoods together. Lotmore was an industrial engineer by trade and proven success implementing and managing lean accountable processes and policies within his eighteen years of operations excellence, strategic development, and project management in the aerospace, manufacturing, and banking industries. Over his career he has saved and created hundreds of union and non-union jobs. Lotmore is the President of a Homeowner Association, an active Science Technology Engineering and Mathematics volunteer in his community, and former Boeing 747 Diversity Council leader. Mario’s talent is finding “that recipe” of shared destiny to effectively improve the quality of life for others.

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