The US Bureau of Labor Statistics also released its information on Friday. The data shows that the consumer price index for all urban consumers in the United States increased by 0.9% in March. in seasonal terms, after an increase of 0.3%. in February. This is lower growth than in most EU economies.
Over the last 12 months, an index of all goods and services increased in the US by 3.3%. Economists predicted 3.4%, so there is a slight positive here too.
USA inflation
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For comparison annual inflation in the euro zone was 2.5%. (HICP), and in Germany 2.7 percent. (CPI), so March hit Europeans particularly hard in terms of prices, and was less severe for Americans, and over the course of the year, prices rose faster in the US. This is influenced by, among others, higher American economic growth.
Gas prices are decisive
The key factors in all this should be fuel and energy prices. And while the price of gasoline in the USA increased by 21.2%. in March compared to February, diesel by as much as 30.7%. Interestingly, diesel in Germany was cheaper, by 22.6%. mdm, and fuels in total by 15.6%. Therefore, liquid fuels were not responsible for the lower monthly inflation rate in the USA. Electricity also did not respond, with the price of electricity increasing by 0.8% for consumers in the US in March. compared to February, and in Germany it was down by 0.3%.
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The difference in favor of the US was mainly due to gas prices. Taken together, electricity, gas and other fuel prices in Germany increased by 2.2% in March. mdm, in the USA it is the same category – by only 0.4 percent.
Additionally, food and beverage prices in the US did not change month to month, with the price of eating out increasing by 0.2%. mdm, and at home – it decreased by 0.2%. mdm. Meanwhile, in Germany, food and drink prices increased by 0.1%. mdm. The difference here is small, but the weight in inflation is high.
Apart from fuels, other prices were not “crazy” either in the USA or in Germany. This means that the cost of more expensive petrol and diesel has not yet spread across the economy. The prolongation of the conflict in the Middle East and the blockade of the Strait of Hormuz will certainly change this situation to the detriment of consumers.
