scorecardresearchThis may be the reason why US inflation could come at 40-year high later today

This may be the reason why US inflation could come at 40-year high later today

Updated: 13 Jul 2022, 04:03 PM IST
TL;DR.
Inflation at that level would make it highly likely the Federal Reserve will implement another large interest rate increase at its next meeting in two weeks. Higher rates are intended to cool consumer and business spending and slow the economy and inflation.
Grocery shopping in Rosemead, California on April 21, 2022. - US inflation reached a four-decade high of 8.5% in March and prices are expected to continue to rise for staples like bread, meat, and milk as farmers faces shortages of fuel, fertilizer, and materials as the Russia-Ukraine conflict continues. (Photo by Frederic J. BROWN / AFP)

Grocery shopping in Rosemead, California on April 21, 2022. - US inflation reached a four-decade high of 8.5% in March and prices are expected to continue to rise for staples like bread, meat, and milk as farmers faces shortages of fuel, fertilizer, and materials as the Russia-Ukraine conflict continues. (Photo by Frederic J. BROWN / AFP)