Last March inflation a general increase in prices and fall in the purchasing value of money. was the highest in the last six months: 1.2% in all items, with gasoline being the highest of all. Compared to this time last year, the increase was 8.5%.
Inflation is being seen everywhere. The numbers were already negative throughout the pandemic, and now the war between Russia and Ukraine has only aggravated the economic crisis and the value of fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. money in all countries. Statistics published today by the Bureau of Labor Statistics (BLS) report on the serious situation in the United States.
El Consumer Price Index (CPI) from U.S. Department of Labor a metric used to measure the increase in the cost of living in the country, rose faster than expected in March. One of the main determinants of that increase has been the price of both energy (oil, gasoline, gas…) and food. Both increases are closely related to the war, given Russia’s relevant role in both sectors. The huge country is a major producer of fuels, metals and wheat.
It is worth noting that with this month’s numbers, annual inflation is 8.5%, the highest in four decades according to reports. Inflation of such magnitude has not been seen since 1981, the report reveals.
March, the month with the highest inflation
El Consumer Price Index for All Urban Consumers (CPI-U) showed an increase of 1.2 percent in March. This is the highest monthly increase in recent months. In February this index was 0.8%, in January 0.6 and in December 2021 likewise 0.6.
Increases in the gasoline, housing and food indices were the largest contributors to the seasonally adjusted increase in all items. For example, gasoline rose 18.3% in March, while in the previous month it had risen 6.6%. Vale señalar que durante todo el año, el aumento registrado en esta energía es de 48%.
Mientras, la electricidad en Estados Unidos subió 2,2% en marzo, y 11,1% en los últimos 12 meses.
Also, in relation to food, the increase this month was 1% and the index of food consumed within the home increased by 1.5 percent. In the whole year, in the food item there was an increase of 8.8%.
Además contribuyeron con el aumento el índice de incremento de vivienda, transporte, tarifas aéreas, muebles, servicios médicos, cuidado de la salud, seguro de vehículos de motor, entre otros. Por el contrario, el índice de automóviles usados cayó un 3,8 por ciento durante el mes.
What about crypto?
In all of March 2022, cryptocurrencies haven’t had the best performance (nothing comparable, for example, to last year’s surge), but they have been fairly stable, with some ups and downs, but no overly significant crashes.
En líneas generales, con respecto al mes pasado, Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. ( BTC ) has on today’s date April 12 an increase of 5%; while for the same period, Ethereum a decentralized open-source blockchain with smart contracts functionality. ( ETH ) grew 20%. Cardano ( ADA ) is another one that performed well between mid-March and today: it rose 23%. As for Solana ( SOL ), very fashionable lately, the increase was 35% in the last month. For those who have doubts about the power of cryptocurrencies as an asset to protect against inflation, these numbers speak for themselves.
Report of DiarioBitcoin
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