US inflation rate It climbed at its highest rate since 1981, with an 8.5 percent year-on-year increase through the end of March. As the war in Ukraine drives up energy costs for Americans As announced by the Labor Department on Tuesday
The latest consumer price index (CPI), which measures the price of goods and services. rose again after an increase of 7.9% in February This is the fastest annual inflation rate in 40 years.
This is driven by ongoing supply chain problems, rising demand, and rising energy prices. This puts inflation at levels not seen in the United States since Ronald. Reagan takes over the White House from Jimmy Carter.
This could make it particularly difficult for low-income Americans. and is an important driving force for Biden’s management.
Rising oil prices were the main driver of the increase. The gasoline index rose 18.3% in March and accounted for more than half of all monthly increases. As the price of gas began to decline This is a sign that some economists argue may indicate inflation has reached its peak.
White House spokesman Jen Psaki warned that the government expected the March CPI headline inflation to “Extraordinarily high” and caused by the war of Russian President Vladimir Putin
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