In particular, increasing cuts in Russian natural gas supplies to Europe after last year’s invasion of Ukraine had already contributed to a global energy crisis that fueled inflation and hurt industries and consumers around the world.
The problems in the USA
As Urgente24 reported in: Joe Biden’s black week: NAFTA and impeachment proceedings set him on fire, it’s not the best week for the American president, Joe Biden. Following the Republican investigation into possible impeachment over his son’s laptop, Hunter Biden, Despite the efforts of the Federal Reserve (FED), fuel inflation once again showed signs of survival.
Excluding volatile food and energy categories, prices rose 0.3%, reflecting a faster pace of so-called core inflation than in the previous two months. The recovery in underlying prices reflected higher costs for items such as rent, car insurance and health care said the government.
On an annual basis, overall prices rose 3.7% in August, compared to 3.2% in July. Annual core inflation fell to 4.3% in August from 4.7% in the previous month. On an annual basis, overall prices rose 3.7% in August, compared to 3.2% in July. Annual core inflation fell to 4.3% in August from 4.7% in the previous month.
“We will have to wait and see whether this inflation trend continues.” “Fed Governor Christopher Waller said this on CNBC last week. Officials have already been burned twice, in mid-2021 and again last year, when inflation seemed to have peaked only to rise again.
“I want to be very careful about saying we’ve done the job on inflation until we see us continue this trend for a few months before we say we’re done with anything.” Waller said.