Inflation in the USA has flied up to 17 - a summer maximumConsumer prices in the USA in July 2008ã. Have grown on 0,8 % in comparison with the last month. Published by the Ministry of Labour of the USA the data has not coincided with expectations of analysts which predicted growth on 0,4 %.
Except for the prices for foodstuff and energy carriers, consumer prices in July of this year have grown on 0,3 %. Under the specified data, in June growth of consumer prices, except for the prices for foodstuff and energy carriers, has made also 0,3 %.
In annual calculation inflation in June has grown on 5,6 % and was established on record-breaking high mark for last 17,5 years: last time inflation reached such level in January 1991ã. Have even more afflicted investors the data at the prices for power resources: in June of this year the prices for energy have grown in the country on 4 %, and in annual calculation this indicator has made 29,3 %.
the Majority of experts agree in opinion that the rate of inflation has appeared record-breaking high. “ we did not expect such strong growth of inflation. Especially in July considerable falling of the prices for oil was marked. Possibly, there will pass still couple of months before the rate of inflation in the country will start to decrease “ - leading economist Wachovia Securities Harry Tajer marks. Thus the expert adds that in the future all will depend on the prices for oil: if oil grows up, then it is not necessary to wait for inflation decrease, transfers Reuters.
Thus some participants of the market underline that the current data on inflation considerably complicates life to Federal reserve system (FRS). The matter is that after August crisis of credits of level subprime the American Central Bank has begun a cycle of fall of discount rate to prevent the further negative consequences of crash. As a result now in the USA very low rate of refinancing and a high rate of inflation. And while FRS is afraid to lift discount rate from - for low rates of economic growth in the country.
“ if the rate of inflation has decreased, the monetary authorities could concentrate on problems of housing sector. But it does not happen “ - adds G.Tajer. Economist Dresdner Kleinwort Securities adheres to the similar point of view also Saporta Is given: “ Most likely, in the near future FRS cannot neither raise, nor lower discount rate. The high rate of inflation adds problems to the American monetary authorities “.
However, not all divide so pessimistic point of view. Many analysts are assured that in the near future inflation in the USA will start to decrease. “ I think that July becomes a turning-point. The rate of inflation, most likely, will start to decrease gradually. I think, the most bad remains behind “ - leading economist First American Funds Kate Embr concludes.