English
()
العربية
()
The White House announced that it expects the rate of inflation for the month of March in the United States, which will be revealed on Tuesday, to be “extraordinarily high.”
This is due to the high prices due to the war in Ukraine.
“We expect consumer price inflation in March to be extraordinarily high due to the price hikes caused by (Russian President Vladimir) Putin,” US presidential spokeswoman Jen Psaki said during her daily press conference.
She added that the White House expected a “significant difference” between the general rate of inflation and the “core” rate of inflation, which excludes energy and oil prices, which have risen since the start of the war in Ukraine.
President Joe Biden plans to speak on the subject Tuesday in state during a visit that will focus specifically on the issue.
Inflation was already high in the United States before it worsened in February with the start of the war in Ukraine.
Consumer prices rose 7.9 percent in one year. a level not seen since 1982, According to the consumer price index, on the basis of which pensions in particular were adjusted.
The rate of inflation is expected to accelerate in March, which will be the first month to give a full picture of the repercussions of the war in Ukraine on prices in the United States.
The one-month inflation rate is expected to be 1.2 percent. compared to 0.8 percent in February. As for the “basic” inflation rate, It is expected to remain unchanged at 0.5%. This confirms that the increase in prices is concentrated in the energy and food sectors.
from their side Economists warn that inflation will not slow down for several months.
To counter that, The US Federal Reserve began raising key interest rates in mid-March to increase the cost of borrowing, Which would slow down consumption and investment to ease pressure on prices.
The US Central Bank confirmed that it will continue to tighten monetary policy in the coming months
