Inflation Rate 12 April 2023

The current inflation rate in the United States is 5.2%, as of March 2023. This is the highest inflation rate in the US since August 2008. The main drivers of inflation are rising energy and food prices. The price of gasoline has increased by more than 50% in the past year, and the price of food has increased by more than 8%. Other factors that are contributing to inflation include supply chain disruptions, labor shortages, and increased demand for goods and services. The Federal Reserve is expected to raise interest rates several times this year in an effort to cool inflation. However, it is unclear how effective these rate hikes will be, as they could also slow economic growth.