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Used car dealer in New York
Photo: THOMAS URBAIN / AFP
In the United States, inflation rose surprisingly strongly in June.
Compared to the same month last year, consumer prices rose by 5.4 percent, announced the Ministry of Labor.
This is the highest rate since August 2008. Economists, on the other hand, had expected a slight decline in the rate to 4.9 percent, after it had been five percent in May.
The rise in the inflation rate is being fueled primarily by the ever-increasing lifting of corona restrictions.
The prices for hotel stays, car rentals, clothing and air travel have recently risen significantly.
Economists are surprised by the sharp increase.
"Even the greatest pessimists did not expect such a sharp rise in inflation," said Dirk Chlench, an economist at Landesbank Baden-Württemberg.
This is now the fourth month with a significantly higher inflation rate, which will also have an impact on monetary policy.
"The US Federal Reserve will come under heavy pressure from the latest inflation figures to end its ultra-expansionary course."
The US Federal Reserve has always described the increased inflationary pressure as temporary and explained it with special effects.
Therefore, she declared that she did not want to react to the price increase for the time being.
Thomas Gitzel, chief economist at VP Bank, expects the corona special effects to expire at the end of the year.
There is then no longer any reason for the very loose monetary policy.
"The Fed will soon be presenting a concrete roadmap for exiting securities purchases."
The US dollar gained after the data on all major currencies.
The euro fell below the $ 1.18 mark.
US Treasury bond prices came under pressure.
hej / dpa