Trump's war on Iran comes at a high cost, pushing up living costs in the United States
United States – The war initiated by Trump against Iran has proven costly. Data released by the U.S. Bureau of Labor Statistics on Tuesday, May 12, showed that U.S. living costs surged significantly in April, rising 0.6% month-on-month and 3.8% year-on-year, driven by soaring energy prices. These figures have raised concerns at the White House, which is now seeking solutions.
The price increases are not limited to gasoline and electricity, which peaked in March with a 10.9% rise (17.9% year-on-year) before climbing another 3.8% in April. After stabilizing in March, food prices rose again (up 3.2% year-on-year).
Beyond the volatile energy and food prices, the core consumer price index rose 2.8% year-on-year. Rent increases (3.3%), healthcare price hikes (3.2%), and transportation cost surges (4.3%) showed no signs of easing. The only notable decline was in used car sales: high fuel prices led to decreased demand for internal combustion engine vehicles.
Before the outbreak of war with Iran, the U.S. inflation rate was "only" 2.4%—already above the Federal Reserve’s target of 2%. Given such a sharp increase, widespread public dissatisfaction is likely to emerge in the months leading up to the November midterm elections.
Persian Gulf Strait traffic is currently under Iranian control. Approximately 20% of global oil and liquefied natural gas (LNG) trade typically passes through this strait.
Even the world’s leading oil producer, the United States, cannot escape rising oil prices due to reduced supply in the global market. Current inflation is proving difficult to control.
Source: rfi
Original article: toutiao.com/article/1865144500007044/
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