Still Skyrocketing! US July Inflation Reaches 8.5%

Jakarta, CNBC Indonesia Inflation in the United States (US) in July 2022 was at 8.5% on an annual basis. This was stated in a release announced on Wednesday (10/8/2022).

Collect AFP, This figure itself is actually lower than last June which was in the range of 9.1%. This inflation figure is admittedly far below expectations even though food prices are still increasing

“The consumer price index was unchanged compared to June, well below expectations, while the CPI excluding food and volatile energy items rose just the smallest 0.3% in four months,” the US Department of Labor said.

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Previously the US experienced quite severe inflation. It also prompted the Fed to raise interest rates at the end of last month.

Minister of Finance (Menkeu) Sri Mulyani said that the phenomenon occurred because supply chain disruption. Where the demand side recovery is much faster than the supply side, the supply side is lagging behind.

In addition, the geopolitical tensions between the Russo-Ukrainian war also exacerbated the current inflationary conditions. This is because there was a surge in food and energy commodities in which the two countries became the world’s largest producers.

[Gambas:Video CNBC]

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