Over the past 12 months, the US consumer price index has reached 4.2%, which was the highest figure since September 2008. This is reported by the Ministry of Labor of the country.
In April, consumer prices rose by 0.8% compared to March, while experts had expected an increase of 0.2%. In their opinion, the current figure is associated with growing demand as the spread of the coronavirus weakens.
The core consumer price index, excluding food and energy prices, rose 0.9% from March. This figure is the highest since 1982. Gasoline prices, on the other hand, fell for the first time in almost a year.
The United States also saw a sharp rise in prices for cars, transportation services, and hotel accommodation as businesses most affected by the pandemic resumed operations.
It is specified that the rate of inflation growth has increased sharply after several years of staying at an unusually low level, mainly due to the recovery of the US economy. Experts attribute this situation to the fact that enterprises cannot keep up with demand.
According to the statement of the US Federal Reserve System which serves as the country's central bank, the current increase in inflation is temporary.