US inflation reaches 9.1% in June, highest in 41 yrs

The inflation in US has come at 9.1 per cent in the month of June, this is the highest inflation in the country since 1981,

the Labor Department data showed Wednesday, rising from its 8.6 per cent level recorded in the month of May.

The markets were expecting US Consumer Price Index (CPI) inflation to scale a fresh multi-year high of 8.8 per cent in June, 2022.

Many experts have also said that high inflation in US has warranted another rate hike at the upcoming Federal Open Market Committee (FOMC) meeting,

which is scheduled to take place on July 27. FOMC is a Federal Reserve committee that decides US interest rates.

This will impact India also, which will dampen the spirit of foreign investors’ from investing in India.

this will have a potential impact on currency markets, because of the outflows from Indian equity and debt markets.