Alarm in the United States over soaring inflation

Jerome Powell, reserva federal EEUU

Both in the political and economic spheres of the states that make up the United States, alarm is spreading over the unprecedented rise in inflation. Last year it exceeded the 6% forecast and in January it reached 7.5%, the highest rate in four decades.

Practically all prices have risen, including housing for purchase or rent, and some by as much as 50%. This rise is most noticeable in basic necessities and consumer goods, starting with foodstuffs and including petrol, which has doubled in price in less than three years.

Wages have barely increased by between 2 and 2.5%, which places the most disadvantaged in very difficult conditions and they are suddenly finding it very difficult to get by. There are several reasons for this and it is seen in principle as a consequence of the pandemic.

Throughout all these months of difficulties with production and transport, stocks have been restricted in both supermarkets and department stores. Experts admit that they are the first to be surprised by the speed at which inflation has soared.

Speaking to The Wall Street Journal, one veteran analyst countered those who believe that this is a temporary problem that will resolve itself over time. "The higher inflation rises, the greater the danger that it will be prolonged," he said. The experience of other countries shows this.

Of course, not everything is attributable to COVID-19. As for the causes, the business newspaper par excellence denounced that a large part of the escalation is also due to the large industrial and service corporations that are taking advantage of the situation to inflate their prices.

There are many businessmen, speculators and intermediaries who are making a fortune thanks to the pandemic. Inflation, says The New York Times, is the daily theme of the people you hear on the streets.