US inflation rises more than expected in March

| April 15, 2011 | 0 Comments
US inflation rises more than expected in March

The US Labor Department has today revealed consumer prices climbed to 2.7% in March from 2.3% in February.

The rise, which was more than expected, was attributed to higher food and petrol prices.

Meanwhile, on a monthly basis, consumer prices rose by 0.5% in March.

Inflation is rising in many economies throughout the world, particularly in Asia. Today figures revealed India’s inflation rate surged to 8.9% last month from 8.3% in February.

India’s inflation rate is the highest among the Group of 20 leading nations, due to soaring food costs.

Also today it was revealed that Chinese inflation rose to a 32-month high of 5.4% in March on an annual basis from February’s level of 4.9%.

However, fuel and food prices have risen sharply across the US. Petrol prices were up for the ninth consecutive month in a row, due to rising oil prices.

Food prices rose by 0.8% in February - the largest monthly increase since July 2008.

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