Inflation: Prices Rising At Fastest Rate In 40 Years

The latest consumer price index report found prices for things like food, gas and housing are rising at the fastest rate in four decades.

More and more Americans say they're feeling the squeeze from rising prices on everyday goods.

The U.S Labor Department reported Thursday that the consumer price index – a key gauge on inflation rates — rose 7.5% from a year ago. That’s the largest increase in 40 years.

The cost of food, housing and energy have shot up the most, with gas prices 40% higher year-over-year.