Inflation in the U.S remained high in August, making it difficult for Americans grappling with buying essential goods, despite the drop in gas prices. The news caused a sell-off in the markets, registering their biggest drop in more than two years. But President Joe Biden played down the report.
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Global Inflation Concerns
Inflation across the developed world is surging, with the rising cost of living expenses at the highest level since the 1980s.