(Bloomberg) -- Prices in the U.S. are surging the fastest among the Group of Seven advanced economies, propelled by higher costs of energy, food and a raft of other goods and services.
U.S. consumer prices soared 8.5% in March, the most since 1981. Russian President Vladimir Putin’s invasion of Ukraine has disrupted energy and commodity supply chains, driving up the cost of items from gasoline to agricultural products. That’s added to an inflationary impulse that had already sparked a sharp political debate.
Some emerging markets are recording faster inflation than the U.S., including Brazil, Argentina and Turkey. India’s pace is approaching 7%, while China’s living costs are only rising 1.5%.
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