U.S. Inflation Cools While Global Inflation Persists – Global Inflation Trends
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Following 40-year highs in inflation, the Fed’s aggressive rate hikes and a slowing economy have begun cooling inflation. For the 6th consecutive month, U.S. Inflation has decreased, reaching 6.5% in December 2022.
For the United States, this stands as an optimistic sign of easing inflationary pressures on consumers, corporations, and small businesses. While 6.5% inflation is still abnormally high, and over 4% greater than the Fed’s target rate, it is also the lowest inflation has been since October of 2021. However, the Fed’s monetary policy that lowered inflation has also introduced a recessionary environment, which might continue to unfold throughout 2023.
At the same time American inflation cools, nations worldwide are continuously struggling with high inflation. Argentina is facing 94.8% inflation as of December 2022 and is expected to reach 98% inflation by the end of 2023. This is the highest inflation Argentina has observed in three decades and comes amidst political turmoil. Other nations with notably high inflation include Turkey at 84%, Russia at 12%, the UK at nearly 11%, and Poland at 17.5%.
Sources: Bureau of Labor Statistics, IMF, WorldBank
Print Version: Feb 2023 U.S. Inflation Cools While Global Inflation Persists Global Inflation Trends
