New York: US inflation hit a 40-year high. Inflation in February was driven by higher prices of fuel, food and property.
The impact of the Russia-Ukraine conflict will exacerbate inflation in the coming months. Inflation in February was 7.9 percent year-on-year, according to data released by the U.S. Department of Labor. It was 7.5 per cent in January. For the first time since 2018, the US Federal Reserve is expected to raise interest rates next week to counter inflationary pressures.
