US inflation hits 40-year high According to the Bureau of Labor Statistics, inflation rose to 7.9 percent. This is the first time since 1982 that inflation has risen to this level. It is estimated that disruptions in the supply chain have increased transportation costs, as well as the global crisis created by the Russia-Ukraine conflict.
Inflation, which was 7.5 per cent in January, rose sharply to 7.9 per cent. The U.S. has warned that rising inflation will put pressure on the economy over the next 12 months. Treasury Secretary Janet Yellen said disruptions in the supply chain were a matter of urgency.
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US President Joe Biden has previously blamed Russian President Vladimir Putin for US inflation. Biden blamed the recent rise in gasoline prices on Russia’s deployment of troops on the Ukrainian border.
Democrats have been accused of spending $ 1.9 trillion on fuel last year, exacerbating the situation. However he acknowledged that their numbers were not enough to defeat inflation.
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