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The US consumer price index rose the most in 41 years last month.
In the aftermath of this, the Korean exchange rate is rising and the stock market is shaking. The US government temporarily allowed even the trading of gasoline containing high ethanol, which had been banned from the sale in order to catch the price of oil, the cause of inflation.
Correspondent Kim Soo-hyung from Washington.
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In the US, shopping these days is scary.
In particular, after Russia's invasion of Ukraine, oil prices soared to an average of $4.33 per gallon on the 11th of last month.
[Jason Emerson: The price of oil went up a lot when the war broke out in Ukraine.
Many companies are raising prices significantly, making people spend more.]
The U.S. Department of Labor said the CPI surged 8.5% in March from the same month a year earlier.
It was the largest since December 1981 and greatly exceeded the increase of 7.9% last month.
In particular, energy prices in March rose by 32% compared to the same month last year.
The U.S. government even temporarily allowed the trade in gasoline containing high ethanol.
[Biden/President of the United States: We will temporarily authorize the use of high-ethanol gasoline to be sold across the United States.
This is a measure to increase energy supply this summer.]
Gasoline with high ethanol content has been banned from sale in summer because it worsens smog when used in hot weather.
The prospect that the Federal Reserve may take drastic measures to raise interest rates by 0.5 percentage points in May to tackle loose inflation is gaining strength.