The whole world is in the grip of recession. Even in 2008, when there was a recession, the condition of America had worsened. In this recession, America seems to be falling on its knees. A recently released report has shocked everyone. According to this report, two out of every three Americans are unable to pay their grocery bills.
What does the report say?
According to a survey report conducted in the US, online shopping and ration delivery service gained a lot of popularity in the initial period of the Kovid epidemic, but this time the situation has changed a lot. Due to rising inflation this year, consumers are buying more from these stores (retail shopkeepers), which account for about a third of the number. While three-fourth people say that they are refraining from buying expensive things, some say that they have not been able to pay even their old bills till now.
Inflation figures bring relief
Let us tell you, there has been a decrease in wholesale inflation in America. It has come down to 7.4 percent in November. This is the fifth consecutive month when wholesale inflation has come down. According to the data, WPI inflation stood at 8 per cent in October, while in March it stood at a high of 11.7 per cent. This decline in wholesale inflation for the fifth consecutive month indicates that inflationary pressure on the US economy is steadily reducing. The US government said on Friday that its producer price index rose 0.3 percent in November compared to October on a monthly basis. This is the third consecutive month when this index has increased. This index tells about the cost of the product before it reaches the consumers.
PressWire18 provides latest news, bollywood news, breaking news hollywood, top tech news, business standard news, indian economy news, world economy news, travel news, mumbai news, latest news mumbai loksabha election 2024, video viral news, delhi news, Only at Only at Presswire18.com
What is the condition in India?
Retail inflation in India has registered a decrease in the month of October. Retail inflation came down from 7.41 to 6.77 percent due to lower prices of food products. However, it still remains above the satisfactory level of the Reserve Bank of India (RBI).
latest business news