Inflation hit people in America, broken record of last 40 years

High Inflation in America: Inflation in America has broken the back of the people. Inflation in the country is at a 40-year high. Inflation in America has increased by 7.5 percent in the last one year. Inflation has risen from its highest rate in four decades to a record level in the last one year. Due to rising inflation, the troubles of America’s consumers have increased a lot. The people whose salary has increased a bit, inflation has ruined everything. Inflation in the country is forcing the decision of the Federal Reserve to increase the lending rates in the economy.

Inflation hit in America

The US Labor Department said on Thursday that consumer prices rose 7.5% last month compared to 12 months ago, the highest year-on-year increase since February 1982. Shortage of supply, labor shortage, extremely low interest rates and strong consumer spending are all jointly responsible for accelerating inflation over the past year. The rise in inflation is likely to have a bad effect on the US economy. There is no clear indication yet about when the inflation rate will come down.

Common people upset due to continuous increase in prices

Due to rising prices, many Americans are facing difficulties in meeting food, gas, rent, childcare and other necessities. Inflation in particular has emerged as the biggest risk factor for the US economy. Many small businesses, which usually have lower profit margins than larger companies, seem to be struggling because of their huge salary increases. They are also raising the prices. The National Federation for Independent Business, a trade group, said in a monthly survey that 61 per cent of smaller companies raised their prices in January. Which is the largest ratio since 1974. It was only 15 percent before the corona epidemic. At present, the common consumers are worried due to the increase in inflation, it is a big challenge for the government to control it.

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