US Inflation Rate: No relief from inflation in America, wholesale inflation rate increased by 2.2 percent in September

US Inflation Rate: No relief from inflation in America, wholesale inflation rate increased by 2.2 percent in September

US Inflation Rate Update: American (United States) citizens do not seem to be getting relief from inflation. In September 2023, America’s wholesale inflation rates saw the biggest jump since April 2023. According to the Labor Department, the Producer Price Index, through which inflation is measured according to the wholesale price before reaching the consumer, has increased by 2.2 percent compared to a year ago, while an increase of 2 percent is expected to be seen in August 2023. Was found. 

It is clear from the wholesale inflation rate data that despite increasing the interest rates by the US Central Bank Federal Reserve, inflation is not showing any signs of decreasing. If we look at wholesale inflation month-on-month, the Producer Price Index has seen an increase of up to 0.5 percent from August to September. Whereas a decline of 0.7 percent was seen during the months of July to August. 

Excluding food and energy prices, core inflation has seen a jump of 2.7 percent in September 2023 compared to a year ago. Before this, the pace of increase in wholesale prices was very slow. Then it was expected that there could be relief from inflation. But on Wednesday, October 11, the sharp rise in wholesale inflation rate for the month of September may increase the concern of policymakers.  

Wholesale energy prices have increased by 3.3 percent during the month of August to September, while the prices of food items have increased by 0.9 percent. Whereas during July to August the prices had decreased by 0.5 percent. Last year, the highest inflation in four decades was seen, after which the Federal Reserve had decided to increase interest rates. It has been decided to increase the benchmark rates 11 times after March 2022. Expensive interest rates have helped in controlling inflation and slowing down the pace of strong job market. strong>Mutual Funds: Investment in mutual funds through SIP crosses Rs 16,000 crore for the first time in September 2023, investment in equity funds declines by 30%

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