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The United States registers the highest inflation in 40 years
High inflation has reduced the purchasing power of citizens and has significantly lowered the popularity of President Joe Biden
During 2021, inflation in the United States reached its highest level in 40 years, with prices increasing by 7.5% at the end of December.
With high inflation and low popularity of President Joe Biden, the purchasing power of citizens has been reduced. Although the economy is recovering due to the pandemic, the raises received by workers have not had a great impact.
Being more than economists expected, inflation increased from December to January 0.6%. Prices have had an increase of 0.7% between October and November and 0.9% from September to October.
Specialists assure that, given the shortage of supplies due to high demand, due to government measures to curb the economic consequences of the pandemic, and the low rates of inflation, the rise in inflation has been triggered.
Economists do not predict early improvements, since the reasons that triggered inflation continue to exist: precipitous wage increases, ports and warehouses with labor deficits and missing products.
The one in charge of containing inflation per year within a limit of 2.0% is the Federal Reserve and it would have announced some measures to contain the increase in inflation, and possible increases in interest rates on loans.
In a report issued by the Department of Labor, it indicated that the demand for beneficiary applications for unemployment has dropped significantly, but is still within limits.
Although this figure has been stable for a few months with levels equaled or below before the covid-19 pandemic.
