U.S. factories have raised their prices because of tariffs, although inflation has appeared modest or moderate in most parts of the country, the Federal Reserve said on Wednesday in its latest report on the economy.
Source: www.cnbc.com
The U.S. Federal Reserve, in its ‘Beige Book’ report, stated that factories have increased their prices due to tariffs, even though inflation looks modest or moderate in most parts of the country. The U.S. economy is growing modestly with businesses across industries facing labour shortages. There are also concerns over U.S. administration’s trade war with China and simmering tensions with other major trading partners. The Central Bank has increased interest rates this year to keep prices from rising too quickly.
