US inflation at 40-year high with 9.1 per cent in June
New Delhi : The inflation in the United States was recorded at 9.1 per cent in June, highest in last 40 years. With this the prices of gas, food and rent going drastically high.
The rising prices have become a major problem in the US for the most families as the cost of necessities is rising much faster than the average income.
Some of the experts have claimed that the inflation might be at a short term peak right now and may fall in coming months. For instance, the prices of gas has fallen from $5 per gallon to $4.66 per gallon. With this the shipping cost and commodity prices have started to fall.
The inflation has also become a major concern for Democrats as it has reduced the confidence of people in economy and Joe Biden which could become a major hurdle in the upcoming elections in November.