Inflation Seen Nearing New Four-Decade High in March

U.S. inflation is estimated to have surpassed an 8% annual rate last month, driven by strong consumer demand, supply-chain disruptions and skyrocketing energy costs related to Russia’s invasion of Ukraine.

The Labor Department on Tuesday is expected to report that the consumer-price index rose 8.4% in March from the same month a year ago, accelerating from a 7.9% annual rate in February, according to economists surveyed by The Wall Street Journal. The CPI measures what consumers pay for goods and services. The figures are set to be released at 8:30 a.m. ET.

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