US Inflation rate, raising risks for economy

In 2022, inflation is one of the expressions concerned in almost every economic forum. Especially for Wall Street investors, this index is critical because it is one of the vital indicators of the Fed’s macroeconomic policy in the coming time.

What is inflation?

According to Wikipedia, inflation is the continuous increase in the general price level of goods and services over time. It is the macroeconomic devaluation of a currency. Moreover, Inflation can be understood simply: In a country when prices rise, one unit of currency purchases fewer goods or services than before.

Us-inflation

Accordingly, it can be understood that inflation reflects the decline of people’s purchasing power per currency unit. For example, a hamburger in 2018 only costs an average of 3$. However, in 2022, to eat a hamburger, people have to pay an average of 5-6$.

Besides, this term can also be understood outside of a country. Specifically, it is considered as a decrease in the value of one country’s currency relative to another country’s currency.

The highest inflation in 40 years

Inflation is at a 40-year high in the US. Federal Reserve System (commonly known as the FED) considers continuing to raise the introductory interest rate by 0.75%, said Todd Shryock (Medical Economics). According to data released by the US Department of Labor on June 10, May inflation unexpectedly accelerated to a 40-year high of 8.6%. The Consumer Price Index (CPI) also increased 8.6% a year earlier. In addition, inflation rose 1% a month earlier, beating all estimates. Core CPI, which includes food and energy ingredients, rose 0.6% month-on-month and 6% year-on-year, also higher than previously forecast.

Us-inflation

Axios (an American news website), on June 14, pointed out that inflation in the US is the highest in 4 decades but not alone. The price spike is truly a global phenomenon. According to the World Bank’s index, food prices are also at a record high. They have risen sharply since the Russia-Ukraine war in February. The parallel increase in food and energy prices is particularly seriously impacting developing countries. Due to the US Federal Reserve officials considering raising the base rate by 0.75 percentage points, this move comes in the context of high inflation in the world’s No. 1 economy.

What to do without shopping?

With the thriving situation, what is the solution for us in shopping, having another item without spending much money? Is there an app that can help us with this?

Us-inflation

Because of those concerns, SwapNow is an application where people can exchange items with each other. Swapping without buying and selling items based on both parties needs. SwapNow is constantly updated to make it as easy to use as possible for everyone.

With the current high inflation rate, we hope SwapNow will help you find the item you want without spending a penny shopping.

Hope the article will bring you valuable content; follow us to be constantly updated with the latest news!

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