Inflation in the United States rose to 8.5%: the maximum in the last 40 years – DiarioBitcoin

Inflation in the United States rose to 8.5%: the maximum in the last 40 years - DiarioBitcoin

Inflation in the United States rose to 8.5%: the maximum in the last 40 years - DiarioBitcoin For DailyBitcoin Editor

Last March, inflation was the highest in the last semester: 1.2% in all items, the highest being gasoline.

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Inflation is seen everywhere. The numbers were already negative throughout the pandemic, and now, the war between Russia and Ukraine has only aggravated, notably, the economic crisis and the value of fiat money in all countries. The statistics published today by the Bureau of Labor Statistics (BLS) realize the serious situation in the United States.

The Consumer Price Index (CPI) of the US Department of Labor., a metric used to measure the rising cost of living in the country, rose faster than expected in March. One of the main determinants of this increase has been the price of both energy (oil, gasoline, gas…) and food. Both increases are closely related to the war, given Russia’s relevant role in both sectors. The huge country is a great producer of both fuels, metals and wheat.

It is worth noting that with the numbers for this month, annual inflation is 8.5%, the highest in four decades according to reports. Not since 1981 had inflation of such magnitudes been seen, the report reveals.

March, the month of highest inflation

The Consumer Price Index for All Urban Consumers (CPI-U) shows an increase of 1.2 percent in March. This is the largest monthly increase in recent months. In February this index was 0.8%, in January it was 0.6 and in December 2021 it was also 0.6.

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The increases in the gasoline, housing and food indices were those that contributed the highest percentage to the seasonally adjusted increase of all items. For example, gasoline had an increase of 18.3% in March, while the previous month had increased 6.6%. It is worth noting that throughout the year, the increase registered in this energy is 48%.

Meanwhile, electricity in the United States rose 2.2% in March, and 11.1% in the last 12 months.

Also, in relation to food, the increase this month was 1% and the index of food consumed within the home increased by 1.5 percent. Throughout the year, in the food item there was an increase of 8.8%.

Also contributing to the increase was the rate of increase in housing, transportation, air fares, furniture, medical services, health care, motor vehicle insurance, among others. By contrast, the used car index fell 3.8 percent for the month.

bls inflation
Report image of the BLS

And the crypto what?

In all of March 2022, cryptocurrencies have not been the best performer (nothing comparable, for example, to last year’s rise), but they have been fairly stable, with some ups and downs, but no major crashes.

In general, compared to last month, Bitcoin (BTC) It has an increase of 5% on today’s date, April 12; while for the same period, Ethereum (ETH) grew 20%. Cardano (ADA) is another that performed well between mid-March and today: it rose 23%. As to Sunshine (SUN), very fashionable lately, the increase was 35% in the last month. For those who have doubts about the power of cryptocurrencies as an asset to protect against inflation, these numbers speak for themselves.

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Sources: US Bureau of Labor Statistics, coindesk, archive

Report of DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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