PNN – Media reports from the United States indicate a rise in inflation over the past month.
According to the report of Pakistan News Network; the inflation rate in the U.S. reached 3.7 percent in July compared to the previous year—exceeding the Federal Reserve’s 2 percent target—and has been on an upward trend since the war against Iran.
According to the Associated Press, rising gasoline prices, the threat of new tariffs on Canada and China, and the high costs associated with artificial intelligence infrastructure are among the other key drivers of inflation.
A new report shows that inflation, excluding food and energy, has also remained steady at 3.3 percent.
Based on monthly figures, headline inflation rose by 2 percent in July, up from a 1 percent decline the previous month.