US Inflation Data: Inflation in America has again reached the highest level of 40 years. According to the data released on Thursday, the inflation rate has reached 8.2 percent in the month of September due to the increase in expenditure on food, living and medical care. Inflation in August stood at 7.8 per cent. That is, the inflation rate has increased by 0.4 percent compared to August.
However, in September 2021, the inflation rate in the US was 8.3 per cent in September 2021, compared to 0.1 per cent in September 2022. After this figure of inflation rate, the possibility of increasing interest rates has increased further. There will be a meeting of the Federal Reserve in November, in which it is believed that the Federal Reserve can increase interest rates even more.
According to the data, the core consumer price index, which does not include food and energy, has increased to 6.6 percent. Which is the highest since 1982. Motor vehicle insurance, household furnishings and education have become expensive in the month of September. At the same time, the prices of used cars and clothes have come down.
In September, the Fed Reserve decided to raise interest rates by 0.75 percent for the third time in a row. The Fed Reserve wants to bring the inflation rate closer to 2 percent, but it remains a far cry.
However, along with inflation, the shadow of recession is also hovering over the US economy. The IMF said that the world may still face a worse phase on the economy front and a recession-like situation may arise in 2023. The pace of development may stop in the US, the European Union and China.
According to the IMF, the growth rate of the US economy is projected to be 1.6 percent in 2022. So in 2023 it may come down to 1 percent. Whereas in 2021, America’s GDP was 5.7 percent. The US President also admitted that recession may come in the country, but the US economy is so strong that it will not face any problem in meeting these challenges.
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