The U.S. saw inflation in April accelerate by the highest amount in nearly 13 years.
The Consumer Price Index, which includes energy and housing costs as well as a general basket of goods, jumped four.two percent on-year in April.
This was the largest jump in the CPI since September 2008.
Analysts say, the higher inflation in the U.S. reflects heavy fiscal support, supply bottlenecks and a boost in spending following the inoculation drive.
They also say one of the main reasons for the jump was the base effect.
Inflation in the same period last year grew just point-three-three percent because of the lockdown amid the pandemic.