The inflation rate in the US rose in June to its highest level in around 40 years. It was 9.1 percent. The value was last this high in November 1981.
The inflation rate has reached a new record of 9.1 percent. In May it was already 8.6 percent compared to the same month last year – the highest value since December 1981. According to the news site “Bloomberg”, economists had expected inflation of around 8.8 percent for June.
Economists were surprised by the strength of the price hike. Although they had expected the inflation rate to rise, they had only assumed an average of 8.8 percent. In May, inflation was 8.6 percent.
The US dollar and capital market interest rates in the US rose as an initial reaction. This suggests that the financial markets are expecting further and significant interest rate hikes by the US Federal Reserve. The Fed recently raised interest rates by 0.75 percentage points. At the next interest rate meeting at the end of the month, another large rate hike is expected.
