Inflation hit a 40-year-high in February, reaching 7.9 percent year-over-year and reflecting another month of higher prices across the board for Americans. Some sectors rose at a faster pace than others, with the cost of gas, shelter, and food up the most. Fuel shot up by more than 43 percent, as those filling up saw continued high prices at the pump. In California, gas hit $5.75 per gallon at some gas stations. In Nevada, prices of $5 per gallon for gas were seen. Shelter rose by 4.7 percent and food went up by 8.6 percent for food at home and by 6.8 percent for food away from home. Given the day-to-day effect that these expenses can have on workers and companies, it’s likely that many budgets are shifting. “Your purchasing power decreases as inflation rises,” Elena Jones, founder of Finance Jar, which provides credit and financial information for consumers, told The Epoch …