Business cycle Inflation in the United States has already risen to almost 9%: the last time prices rose more than 40 years ago

Consumer prices the rise in inflation accelerated again in March to a new record in the United States. According to data released by the Ministry of Labor on Tuesday, the inflation rate was 8.5 per cent, up from 7.9 per cent in February.

The rise in consumer prices was driven by higher energy prices, exacerbated by Russia’s invasion of Ukraine. In March, petrol prices rose by 48 per cent from the same period last year. Food and housing also rose sharply.

News agency According to Reuters, economists predicted an inflation rate of 8.5 percent, which is completely right this time around. The last time inflation was over eight percent was in January 1982, when it cooled to 8.4 percent.

Core inflation, closely monitored by economists, was 6.5 per cent in March, 0.1 percentage point lower than expected. The effect of energy and food has been removed from core inflation. In February, it was 6.4 percent.

Inflation continued acceleration is problematic for the US Federal Reserve, which raised its key interest rate by 0.25 percentage points in March.

Markets believe the central bank will take stronger action by raising the key interest rate by 0.50 percentage points in both early May and mid-June. In addition, several interest rate hikes are expected.

According to the central bank’s price stability target, inflation should average 2% over the long term.