U.S. Inflation Rate Jumps To 7.9%

The U.S annual inflation rate jumped to 7.9 % and is expected to grow even higher amid Russia’s invasion of Ukraine.

U.S. consumers have experienced rising costs for energy and food resulting in a squeeze on household incomes.

U.S. President Joe Biden and central bank officials’ policies are being questioned and calls are being for the administration to change course.

The Federal Reserve – the US central bank – is widely expected to raise interest rates in the coming months.

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Edited by Jesus Chan

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