This article was originally published by Frank Shostak at The Mises Institute. The yearly growth rate of the consumer price index (CPI) closed at 2.4 percent in February against a similar figure in January. In February 2025, the yearly growth rate stood at 2.8 percent. Note that, in June 2022, the yearly growth rate was 9.1 percent. Most analysts are of the view that the sharp increase in the price of oil to around $95 per barrel (from around $64 at the end of February) is likely to lift the rate of inflation as depicted by the yearly growth rate…
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