Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces

Ukraine war to push US inflation even higher

  • By Al Mayadeen Net
  • Source: Agencies
  • 12 Apr 2022 15:03
3 Min Read

Americans expect prices to spike even higher, worsening inflation.

  • x
  • Ukraine war set to push record US inflation even higher
    Americans have been subjected to continually increasing price rises.

On Tuesday, US official data will almost certainly confirm what many Americans already suspected: prices rose at record rates last month, continuing a trend that began last year but has been exacerbated by Russia's military operation in Ukraine.

The March consumer price index (CPI) report from the Labor Department will be the first to completely incorporate the shock created by the Ukraine crisis and Western sanctions against Moscow, and it is almost guaranteed to show a surge in gasoline and other petroleum products prices.

"Russia's invasion of Ukraine has definitely added upside risks to US inflation through channels such as energy, food and also elevated risks of supply bottlenecks lingering for longer," Pooja Sriram of Barclays said.

Americans have been subjected to continually increasing price rises that reached 7.9 percent in the year to February, a rate not seen in four decades.

Read more: US sanctions on Russia likely to boomerang, drive inflation higher: Banker

Related News

Trump approves Patriot missiles to Ukraine, bills EU for costs

Russia slams US-Denmark military pact as threat to its security

However, when the Federal Reserve raises interest rates, some economists predict the report will also represent the pinnacle of the inflation wave that began last year as the economy recovered from Covid-19 – though consumers may not feel relief for some time.

"The subsequent slowing may not be meaningful given all the supply restrictions on products from Russia and Ukraine as well as the growing supply chain bottlenecks on finished goods from China due to the Covid lockdowns there," Karl Haeling of LBBW said.

The inflationary trend has become a political problem for President Joe Biden, and before the release of the statistics, the White House temporarily waived a seasonal limit on sales of E15 gasoline, which is cheaper but generally not permitted to be sold during the summer.

But it won't stop the Labor Department from publishing another astronomical year-on-year inflation rate in March, which economists predict will be about 8.5 percent.

Could it reach its peak? 

After years of subdued pricing pressures, inflation began to rise as the economy rebounded a year ago, fueled by the Fed's pandemic-era cheap money policies, global component shortages and shipping delays, and government stimulus packages that fattened Americans' wallets and spurred up demand.

Economists expect CPI to climb by 1.2 percent in March compared to February, but "core" CPI, which includes volatile food and energy costs, will rise by 0.5 percent, the same as the previous month.

Pantheon Macroeconomics Ian Shepherdson anticipated that "this will be the top" of yearly rises, but only because subsequent reports will be compared to months in 2021 when prices were already rising.

According to Shepherdson, gasoline will play a significant part in March's price increases, adding 0.7 percent to the monthly total. Food prices jumped throughout the month, as did hotel and travel expenses, he said, however, prices for scarcely used autos may fall after recent increases.

Read more: US oil reaches all-time high amid sanctions on Russia

  • Ukraine
  • US inflation
  • United States
  • Washington
  • Kiev

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS