Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Sat, 11 Jun 2022 10:33 AM IST
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Expansion
Inflation in the US has reached a new record high. The US Labor Department on Friday released data for May 2022, saying consumer prices last month rose 8.6 percent from a year ago, while consumer prices in April rose 8.3 percent from the same period a year ago. Had grown.
Growth of 0.3% on a monthly basis
On a monthly basis, consumer goods prices in the US rose 1 percent in May compared to April, a rise of 0.3 percent in April compared to March. Inflation in the country has remained at a four-decade high for quite some time. The reason for the increase in inflation is the increase in the prices of gas, food and other essential commodities.
So much inflation after 1982
Significantly, in March 2022, the consumer price-based inflation rate reached 8.5 percent for the first time since 1982. This was the biggest reason due to which the US central bank Federal Reserve had to take the step of increasing the interest rate. The effect of increase in inflation was also seen on the US markets and there was a huge fall in them. The Nasdaq fell as much as 3.52 percent.