Food and rent prices are rising in the United States Commodity prices have continued to rise in the United States in recent months, despite...
Food and rent prices are rising in the United States
Commodity prices have continued to rise in the United States in recent months, despite increased interest rates to reduce inflation in the country.
The Ministry of Labor said the increase in prices reached 3.2% from the beginning of 2023 until July, and mainly affects food, rent and insurance.
Since last year, commentators have predicted the rise in prices that the country is suffering from now.
The Federal Reserve raised interest rates by more than 5.25%, the largest increase in 22 years, in a move to stabilize the country's economy.
Last year, inflation reached 9.1%, which exceeded the 2% forecast by the authorities earlier.