High inflation seems to be the fate of rich countries. The most sensitive part of inflation, food inflation, in January, the average food inflation in the United States for the past one year stood at 7.5 percent.
The country’s Bureau of Labor Statistics released the data on Thursday. Food inflation in the United States has not risen sharply since February 1982. This news was found by CNN sources.
Excluding food and fuel inflation, the average US inflation rate from January 2021 to January 2022 stood at 6 percent. In this case too, it is the highest since 1982.
In January alone, inflation rose to 0.6 percent with a seasonal adjustment. It has also increased at the same rate in December. The prices of all kinds of commodities have gone up during this time. Home prices, furniture prices, old cars, medical expenses দাম everything has gone up.
In January alone, food prices rose by 0.9 percent and in December by 0.5 percent.
According to the International Monetary Fund (IMF), food prices have risen by more than 40 percent worldwide since the onset of the epidemic (not including inflation). Last year, inflation was higher in developed countries than in developing countries.
The IMF considers the effects of inflation to be quite complex. Developed countries have already begun to lift incentives due to rising inflation. This is hampering the economic recovery. The problem for developing countries is that if inflation continues to rise, capital is likely to run out. With that comes the fear of a declining currency exchange rate. In addition, low-income people who depend on labor income are also affected. The biggest disadvantage of increasing food expenditure is that people think of reducing food expenditure. This increases inequality.