US Inflation Soars To 7.9% YoY In February As Gasoline Prices Climb 38% YoY, Food Rises 7.9% YoY)

As expected, US inflation soared to 7.9% YoY in February as gasoline prices continue climbing.

US rent inflation (owner’s equivalent rent of residence YoY) surged to 4.30%. However, Zillow’s rent index last month was 15.93% YoY.

But if we look at US Monthly Rent YoY, we see that rents are climbing at a 17.6% rate.

Energy costs soared in February YoY. Gasoline was up 38%. Fuel Oil was up 43.6%. Food was up 7.9%.

Volatility (AVAT) rages in the energy sector.

There are still 7 rate hikes in the cards from The Federal Reserve.

Gold has been climbing as Russia invades Ukraine. Cryptos Bitcoin and Ethereum are steady, even as the Biden Administration issues an executive order to “study” cryptocurrencies.