What are the main causes of inflation in the US?
Inflation is decreasing, but consumer prices remain almost eight percent higher than they were a year ago. For many families, this news is troubling as the holiday season approaches, and many evaluate their travel and gift-buying plans in the coming weeks.
The current inflationary crisis is not only being felt in the United States.
Germany has seen prices rise 10.4 percent since October 2021, and consumers in Argentina are trying to keep up with historic inflation that is expected to clock in 73.5 percent higher in January 2023 compared to the same period this year.
Around the world, the supply chain breakdowns caused by the covid-19 pandemic, the energy crisis caused by the Russian invasion of Ukraine, and corporate greed are leading to higher prices across critical markets, including food and shelter.
Read our full coverage for the details and what actions are being taken to reduce inflationary pressure across markets.