Consumer prices in the northern nation reported their biggest rise in 16 years in March, causing annual inflation to spike, the Labor Department reported.
This indicator rose 1.2 percent in the third month of 2022, marked by rising food and gasoline costs, which accounted for more than half of the increase.
On the subject, Mexican economist and expert on energy issues from the Center for Economic Research and Teaching, Rodrigo Benedith, recalled that consumer prices rose 7.9 percent through February, also for a maximum of 40 years, after a record 7.5 in four decades percent in January.
In this context, he pointed out that the high inflation that the United States is currently experiencing, its negative growth rate and the negative trend in government bonds are indicators that the country could be entering an economic crisis.
In an interview published by Sputnik, Bendith pointed out that while there has been a recession due to the pandemic, the world’s largest economy, in contrast, is showing high inflation that would lead to stagflation.
He clarified that high US inflation consists of three basic elements: increases in food, housing and fuel prices, the latter being related to the economic sanctions Washington has imposed on Moscow, particularly in the energy sector.
According to the expert, these penalties will significantly reduce the import of oil, gas and energy from Russia.
The measure was partially applied because if the US pulls Russian oil off the market entirely, the economic consequences could be even more catastrophic, Benedith explained.
If the blockade is applied to Russian crude, as was the case with Venezuela and Iran, the price of a barrel could soar to more than $200, and if they decide to sanction gas, things will get worse, the economist said .
Washington’s actions against Moscow also include banning new investments in Russia’s energy sector and financing or permitting foreign companies doing energy-generation deals in the Eurasian country.
oda / crc