The U.S. economy is witnessing a record high inflation coming out of the COVID-19 pandemic. The U.S. government spent quite aggressively during the pandemic, which now, as economists claim, is manifesting in high inflation.
Prolonged supply chain disruptions and rising energy prices due to the continued Russia-Ukraine war are additional key reasons behind the inflationary environment. In March, prices climbed 8.5% year-over-year, recording the highest level since 1981.
