The national average price of diesel fuel on Thursday rocketed to over five dollars per gallon, a record high that is sure to exacerbate inflation.
truck drivers $5.058, an increase of $1.691 since last month, according to AAA.
About 3.5 million American truckers and 711,000 trucking companies throughout the nation use diesel to fuel their trucks, whichRising diesel prices are sure to increase inflation. On Thursday, the Labor DepartmentThe Department of Labor said that the consumer price index rose 7.9 percent compared with a year ago. Prices were up 0.8 compared with the prior month.
This is the ninth straight month of inflation above 5 percent. Prices rose at an annual rate of 7.5 percent in January, jumping 0.6 percent from December. Economists had forecast CPI to rise by 0.7 percent for the month and 7.8 percent compared with a year ago.
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