US inflation tipped to peak at 9% in next month

US Federal Reserve chairman Jerome Powell.

US inflation figures, due tomorrow, are expected to show a 7.8% increase in February from a year ago, which would be the most since 1982.

However,, economists who were eyeing February as the peak in US consumer inflation, are now saying it could peak somewhere in the 8% to 9% range this month or next as the invasion of Ukraine and severe restrictions on the Russian economy send the prices of staples like oil and food soaring.