World

High interest rates fail to curb U.S. inflation: AP

NEW YORK
2022-10-21 15:16

Already collect



NEW YORK, Oct. 21 (Xinhua) -- The Federal Reserve's move since March to raise interest rates aggressively did not cool the prices hikes, the Associated Press (AP) has reported.

High inflation has now spread well beyond physical goods to the nation's vast service sector, including everything from dental care and apartment rents to auto repairs and hotel rates, said the report on Oct. 14.

"Nearly everything" is driving inflation high, the report said, adding that even though some previously big drivers of inflation -- gas prices, used cars -- fell for a third straight month, recent report on consumer prices in September came in hotter than expected.
Add comments

Latest comments

Latest News
News Most Viewed