US inflation rises to almost 8 percent

2022-03-10T14:17:55.273Z

US inflation rises to almost 8 percent Created: 03/10/2022Updated: 03/10/2022 15:13 The high cost of energy is driving up consumer prices in the US. © Michael Nagle/XinHua/dpa The cost of energy has increased enormously. This is now also reflected in consumer prices in the USA. The inflation rate has risen to its highest level in 40 years. Washington - The high price inflation in the US accele

US inflation rises to almost 8 percent

Created: 03/10/2022Updated: 03/10/2022 15:13

The high cost of energy is driving up consumer prices in the US.

The cost of energy has increased enormously.

This is now also reflected in consumer prices in the USA.

The inflation rate has risen to its highest level in 40 years.

Washington - The high price inflation in the US accelerated further in February.

Consumer prices rose 7.9 percent year-on-year, the Labor Department said in Washington on Thursday.

This is the highest inflation rate since 1982. Analysts had expected this rate.

Inflation in the USA has risen steadily since last August.

The inflation rate was 7.5 percent in January and 7.0 percent in December.

The strongest price driver remains the high cost of energy, which has recently risen sharply due to the consequences of the war in Ukraine.

In February, energy prices increased by 25.6 percent compared to the same month last year.

In the world's largest economy, inflation continues to rise above the target of two percent targeted by the US Federal Reserve.

The Fed has signaled the first interest rate hike since the beginning of the corona pandemic for March.

The market expects interest rates to rise by 0.25 percentage points, but a larger step of 0.5 percentage points is not ruled out due to high inflation.