ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -US inflation reached a four-decade high in June, with consumer prices soaring by 9.1% compared to the previous year, the US government said on Wednesday. It is the biggest consumer price hike since 1981 and alone is up from an 8.6% price hike in May.

Detailed explanation-2: -US inflation Data: US inflation soars to 8.2 per cent, highest in 40 years-The Economic Times.

Detailed explanation-3: -Inflation is at a 40-year high, and despite the Fed’s best efforts, it has continued to rise.

Detailed explanation-4: -U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively-trends that raise the risk of a recession.

Detailed explanation-5: -Consumer prices soared 9.1 percent compared with a year earlier, the government said Wednesday, the biggest 12-month increase since 1981, and up from an 8.6 percent jump in May.