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US inflation remains high as global pressure rises

The main factors that contributed to the persistence of high inflation were rising prices for rental housing, food and medical care. | Font: EFE

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US annual inflation hit 8.2% in September, according to the CPI released by the US Department of Labor.

Although the number inflation slightly lower than reported in August, which was 8.3%, which is higher than analysts’ forecasts.

The main factors that contributed to the persistence of high inflation were rising prices for rental housing, food and medical care.

Considering only core inflation, which excludes the most volatile prices for feeding and energy, there is an annual increase of 6.6%. This will be a new high in more than 40 years of core inflation.

With this still high inflation, the US Federal Reserve (Fed) is expected to raise its benchmark interest rate again.

The Fed has now raised its interest rate to 3.25% from 0% in March, pushing the dollar to its highest level in two decades.

Economists at Barclays Plc raised their forecast for the Fed’s increase for December and February to 75 and 50 basis points, respectively. central bank change course by cutting rates at the end of 2023.

For now, the situation is also forcing other central banks to keep up with the Fed or risk devaluation.

For the World Bank, this simultaneous policy adjustment in all countries threatens to World economy until the fall in 2023

In addition, it notes that developing countries that have borrowed in dollars are particularly vulnerable, and many of them are already in debt distress.

For its part, the International Monetary Fund (IMF) notes that the Fed has no choice but to continue the fight against inflation more aggressive.

Source: RPP

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