US President Joe Biden said: “We’re seeing some signs that inflation may be starting to come down, but more work is needed to make life more affordable for consumers,” noting that “people are still suffering, but inflation is zero.” These statements came after rising inflation in recent months, as a result of the military operation launched by Russia in Ukraine on February 24 and has been going on for more than five months.

Biden said in a press statement, “His administration may face setbacks in its goal of bringing down this inflation,” and noted, “Now I want to be clear about the challenges we face, from war in Europe to disruption of supply chains and closure due to the coronavirus pandemic. In Asia, we may face additional hurdles in the next few months.”

On the other hand, Charles Evans, President of the Federal Reserve Bank (United States Central Bank) in Chicago, said that “the CPI report showing that inflation did not rise in July last year is the first ‘positive’ measure of inflation since the Federal Reserve began to tighten monetary – credit policy. But he added that inflation is still “unacceptably high,” expecting “the central bank to continue raising interest rates, which are likely to reach a range of 3.25 to 3.50 percent this year and to a range of 3.75 up to 4.00 percent”. percent by the end of next year.