NewsGate Press Network
America is facing its worst inflation in last 40 years.
Various reports emanating from the United States of America suggests price rise of various commodities touched an all time high when compared with last year’s figures, hammering American consumers while “wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates across the economy”, as one news agency reported.
The US Labor Department stated on 10th February 2022 that consumer prices in US have jumped 7.5per cent last month compared with a year earlier, the steepest year-over-year increase since February 1982.
When measured from December to January, inflation was 0.6per cent, the same as the previous month and more than many had predicted.
Newspapers in US had reported that prices rose 0.7 per cent from October to November and 0.9per cent from September to October.
Comments are closed for this post.