US CPI inflation hit a record high of 8.3% YoY, beating 8.1% expectations.
The core CPI, which excludes volatile food and energy costs, increased by 0.6% month over month.
Though the CPI moderated for the first time in eight months — a decrease from the 8.5% gain in March
According to experts, 60% to 70% of the inflation excess is due to demand.
As Russian deliveries through Ukraine are hindered, gasoline and oil prices soar.
After the US inflation report, Bitcoin goes below $30,000 and has reached its lowest level since June.
Media experts are fuelling the scope of recession amid challenging times.
The significant factors are higher rents, food prices and a month-over-month drop in energy prices.
After the CPI inflation statistics, the US indexes DOW, NASDAQ, and DXY are experiencing considerable volatility.
The news shook the $22 trillion bond market, jumping over 3%.