Annual inflation in the United States rose sharply amid the war in Ukraine and the coronavirus. In May, inflation accelerated to 8.6% year on year, and in April it was 8.3%.The New York Times and AFP, citing data from the US Department of Labor, write that this is the highest rate of inflation since the end of 1981.
Fuel prices in the United States are breaking new records every day amid the effects of the Russian invasion of Ukraine. The war raises food and fuel prices. Consumer demand remains high, and wage growth is insufficient to fully offset inflation.
Problems with supply chains continue due to the COVID-19 pandemic.
Experts note that fighting rising inflation can be a slow and painful process.