Published: 2021.11.26. Inflation in the United States at its highest in 30 years

Inflation in the United States at its highest in 30 years - Preview

Last week it was reported about the inflation rate in the USA in October at the level of 6.2% per annum. This clearly exceeded both the value of the previous month (5.4%) and analysts' expectations (5.8%). The last time the US dollar depreciated faster was in November 1990 - over 30 years ago. Core inflation last month also turned out to be higher than expected and amounted to 4.6% per annum.
Energy costs have risen especially sharply. After the annual inflation rate in the previous month was 24.8%, in October it was 30%, with gasoline being a particularly strong factor in price growth (+ 49.6% per annum).
The day before consumer prices were announced, investors learned that producer prices were up as much as 8.6% year-on-year, mainly due to shortages of many raw materials and components, as well as increased transport and logistics costs. However, there was also an above-average growth of 26.4% for used cars (cars and trucks) and 9.8% for new cars.