American inflation is flying upwards. Prices in the US are growing the fastest in thirteen years

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Consumer prices in the United States rose 5.4 percent year on year in June. This is 0.4 percentage points more than in May. This is the fastest rise in prices of goods and services in the USA since August 2008, when inflation reached five percent.

The United States is facing rising inflation. Consumer prices are rising the fastest in the last 13 years. Used cars rose the most in price, by 45.2 percent. Only a tenth of a percentage point lower price increase occurred for gasoline. Virtually all energy commodities rose by more than 40 percent year on year, and the price of energy as a whole rose by 24.5 percent year on year.

According to the data of the American Bureau of Labor Statistics, goods in the transport section became more expensive at a double-digit rate, while the smallest increase in prices occurred in several types of commodities in the food section. For medical supplies, as the only item in the consumer basket, there was a year-on-year decrease in prices, namely by 2.2 percent.

However, according to analysts, there is still no reason to panic, because these are one-off factors that are pushing the price level in the US upwards for many years at an unprecedented rate. Experts also expect a similar view from the Federal Reserve System. This is despite the fact that core (monetary policy inflation) has also risen and is the highest since November 1991.


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