December 4, 2021

US inflation jumped to 30-year high

US inflation jumped to 30-year high

Prices in the United States are rising at the fastest pace in three decades. Inflation is likely to continue to rise.

Inflation last month was 6.2% - a record value since 1990. The core food and energy price index grew by 4.6% annually, the highest since 1991.

The rise in prices has spread far beyond thosesectors of the US economy that were most affected by the national lockdown. Leading economists predict an even bigger spike in inflation in the coming months because key drivers such as hot housing markets and the global energy crisis will not disappear anytime soon.

Sarah House, senior economist at Wells Fargo & Co, said:

We will see inflation worsening before the situation improves.

Experts will not be particularly relieved until next spring.expect. Joe Biden's administration has repeatedly stated that price increases are temporary. However, the pressure and calls to curb the effects of the pandemic are growing louder. And the president has announced a priority fight against inflation, following the publication of the latest figures.

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