Here are the new inflation "classmates" of the US last month. Many Asians are able to reign in prices, good. Many Europeans have high month-on-month (MoM) increases of 2+ percent point, like Netherlands, Spain, Poland, Germany.
Now we often hear US President Biden and his Democrat partymates, along with their big media allies using "Putin price hikes" to imply the Russia invasion of Ukraine last February caused all the price hikes. They are lying. Dishonest deceptive politicians. US and many European inflation started rising when Biden came to power. Only 1.4% in January when Trump left the White House, became 7.5% in January 2022 or 12 months Biden in office, no Russia invasion.
Liar Biden and Democrats do not want to admit that their policies -- anti fossil fuel development and investment to "save the planet", large-scale money distribution while preventing people to be productive via continued lockdown, etc. -- caused all the price hikes and instability.
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See also:
Macroecon 13, More economic damages of strict indefinite lockdown, September 17, 2021
Macroecon 14, Macro indicators, inflation rates in selected countries, September 23, 2021
Macroecon 15, US trade, inflation, public debt, November 12, 2021.
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