Inflation in the USA exceeded the forecasts in June, breaking a record and reaching its highest level in 41 years with 9.1 percent annually.
According to the announced data, inflation, which rose to 9.1 percent annually, was recorded as the highest level seen since the end of 1981.
Inflation in the country recorded the biggest increase since 2005 with 1.3 percent on a monthly basis.
After the announcement of inflation in the USA, futures indices fell while the US bond yields and the dollar rose.
The inflation figure, which exceeded the forecasts, was interpreted as an indicator that the US Federal Reserve would continue its aggressive interest rate hikes.
On the other hand, the euro/dollar parity fell below 1 level for the first time since 2002, following the US inflation data.
BIDEN: 'HALF OF THE GROWTH IS ENERGY'
Regarding the record high inflation figure announced, US President Joe Biden said, "Although today's inflation statement is unacceptably high, it is also out of date. Energy alone accounted for about half of the monthly increase in inflation. Today's data shows the pump price approx. "What dropped 40 cents doesn't reflect the full impact of the nearly 30-day drop in gasoline prices," he said.
Emphasizing that he will work to lower the price of gasoline, Biden said, “Recent oil price reductions are supposed to produce lower gasoline prices for consumers at the pump. Second, this month, Congress is urging Congress to reduce the cost of daily expenditures that affect American families, from prescription drugs to electricity bills to health insurance premiums, and "I will urge action on the law to do more in America. Third, I will continue to oppose efforts by Republicans to make things worse by increasing taxes on working people every five years or cutting Social Security and Medicare."
Source: Reuters