In May, the United States inflation hit another 40 years to correct the wrong policy as soon as possible to govern inflation.

Author:National Development Reform Co Time:2022.06.16

On June 10, the United States announced the price data in May after China followed China. Compared with the continued operation of China's prices, the US price exceeded expected in May. In the month, the US residents' consumer price index (CPI) reached 8.6%, and it reached a new high of 40 years after March. The Development and Reform Commission organized experts to re -analyze and judge the recent domestic and foreign prices operation. Experts believe that the United States "temporarily theory of inflation" and "inflation" and "inflation" must be dismissed. They must correct the error policy as soon as possible to effectively control high inflation.

Experts point out that the current high inflation has penetrated into all aspects of the US economic operation and residents' lives, from energy sources (increased by 34.6%year -on -year), food (10.1%year -on -year) to clothing (5%year -on -year), motor vehicles (12.6%year -on -year) When durable consumer goods, then service prices such as air tickets (rising 37.8%year -on -year), transportation (7.9%year -on -year), etc., show a comprehensive and significant increase; the core inflation rate of the core inflation after removing food and energy will increase by more than 6%year -on -year increases by more than 6%consecutive months. The vitality in inflation is very strong. Experts judge that in the future, the United States inflation may further spread to various fields. It is difficult to decline significantly in the short term, and the possibility of economic recession will increase.

Experts believe that frozen three feet is not a day cold, and American inflation is "high fever", which is caused by a series of error policies in the past few years. Trade protectionism. In recent years, the United States has raised the banner of protectiveism, and has set off global countercurrents, especially for the extreme pressure on China. It has seriously damaged trade frictions and seriously damaged the global industrial chain and supply chain. The second is extremely loose monetary policy. After the outbreak of the new crown epidemic, the United States "opened the helicopter to sprinkle money", and the extremely flooding liquidity enlarged the amplitude and speed of inflation. The third is to provoke the Ukrainian crisis and abuse sanctions. NATO, led by the United States, continues to expand east, compress the geopolitical space of Russia, and continues to "pour fuel", which eventually triggers the Ukraine crisis. After the crisis broke out, the United States and its allies sanctioned many times on Russia, impacting the global grain and energy markets, and promoting the rapid rise in the price of commodities in the world. In addition, Western countries such as the United States pushed the "vaccine nationalism" and caused unfair vaccine distribution. The expiration of vaccines in developed countries and difficulties in poverty -stricken countries were difficult to coexist, causing the global economic recovery and epidemic prevention policy to be imbalanced, and the supply chain operation was out of order.

At the same time, experts have "prescriptions" to the US high inflation, and believe that it is more important to tighten the monetary policy than blind interest rate hikes. The United States must correct the wrong policy of "damage to others" as soon as possible and strengthen international cooperation in order to fundamentally control high inflation from high inflation. Essence First, we must immediately cancel the tariffs on China. Some studies believe that if the United States cancels the tariffs on China, it can reduce the inflation rate by more than 1.3 percentage points, and for each ordinary American households an annual expenditure of about 1,200 US dollars. Second, we must promote Russia and Ukraine as soon as possible. Promote alleviating and ending geopolitical conflicts, cancel sanctions against Russia, and promote the restoration of normal order in international commodity markets such as global food and energy. Third, we must actively cooperate with resistance. Help backward countries respond to the epidemic, accelerate the restoration of the global industrial chain supply chain, and promote the normal production and supply of goods.

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