Inflation in the US is at its highest in 40 years
Inflation in the USA in November was 6.8 percent. This rate is almost the highest level in the last 40 years.
Data, which are closely related to global markets and asset prices, were announced.
Annual consumer inflation in the USA reached 6.8 percent in November, reaching its peak after 1982. In November, monthly inflation was 0.8 percent.
EXCEEDED SURVEY EXPECTATIONS
In the survey, inflation was expected to be 0.7 percent compared to the previous month.
RECORD OVER RECORD
In October, consumer inflation in the US hit a 31-year high of 6.2 percent on an annual basis. The monthly increase was 0.9 percent.
RISE UNDER
After the release of the data, the ounce gold price increased from $ 1773 to $ 1780.
CORE INFLATION AS EXPECTED
Excluding food and energy, which is the core inflation indicator, inflation was realized as 4.9 percent on an annual basis, in line with expectations. Monthly core inflation came in at 0.5 percent, in line with expectations.
EYES LOOK AT THE FED
Morgan Stanley economists and strategists reminded that in an environment where growth is solid and labor market conditions continue to strengthen, many central bank officials, including Fed Chairman Jerome Powell, have begun to adopt a more hawkish policy stance due to the discomfort with rising inflation.
The agency’s report, released the day before the inflation figures were announced, said, “We are updating our Fed expectation and we anticipate that the Federal Open Market Committee will start raising rates in September 2022, two quarters ahead of our previous forecast.”
THE WHITE HOME SAID IT WILL SLOW SIGNIFICANTLY
Brian Deese, Director of the US National Economic Council, said before the announcement that all indicators showed that the US economy continued to grow strongly. Deese, while refraining from making an assessment on whether price increases in the US will continue in 2022, stated that independent forecasters continue to expect inflation to “decelerate significantly” in the next year.
Stating that gasoline, natural gas and used vehicle prices are falling, but these decreases may not have been reflected in the CPI data in November, Deese argued that the USA is in a unique position to correct the rising prices and strengthen its economic recovery.
Deese also emphasized that the focus of the Biden administration at the moment is to strengthen the labor market.
