Those price spikes also elevated so-called “core” inflation, a measure that excludes volatile food and energy prices. Rising prices for grain and fertilizer after Russia's war against Ukraine, is intensifying that rise. Surveys show that Americans see high inflation as the nation’s top problem, and most disapprove of President Joe Biden’s handling of the economy. To cool inflation, spending growth must be slowed. Many small businesses are still struggling to keep up with rising costs for supplies and labor, a sign that price hikes will continue.

Source: The Guardian June 11, 2022 06:36 UTC