Inflation in the US jumped to 8.5% year-on-year from 7.9% in February, while analysts polled by Reuters polled 8.4%.
This is the largest annual increase since December 1981, during the presidency of Ronald Reagan in the United States, according to CNBC.
On a monthly basis, it stood at 1.2% compared to 0.8% in February, within analysts’ forecasts.
Structural inflation, excluding energy and food prices, stood at 6.5% year-on-year from 6.4% in February, while analysts expected a measurement at 6.6%. On a monthly basis, it stood at 0.3% compared to 0.5% in February.
By sectors of the economy, energy prices increased by 32% on an annual basis and 11% on a monthly basis, while food prices increased by 8.8% and 1% respectively.
The acceleration of inflation in the US economy is expected to force the Fed to move more aggressively in raising interest rates, raising concerns about the impact of this policy, which has already begun last month on US GDP.
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