Higher prices in the USA
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Prices in the USA go up. The rate of inflation is now 3,8 percent. This is the highest value in 3 years. A big reason is the war in Iran. Because of the war, oil costs more money. Gas costs more money. Fuel is almost 30 percent more expensive. Food costs more money too. Housing costs more money too. Donald Trump is the president of the USA. He wants lower prices. But the war makes prices higher. Many people are sad about this. The bank decides the interest. It wants to stop the high prices. It keeps the interest high. Donald Trump wants low interest. Kevin Warsh becomes the new boss of the bank. He decides what to do soon. Experts think: Prices go up in May.
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Definitions
- Inflation
- Inflation means things get more expensive. You get less for your money. This is the rate of inflation.
- Interest
- Interest is the cost for borrowed money. High interest makes borrowing money expensive.
People
- Donald Trump
- Donald Trump is the president of the USA.
- Kevin Warsh
- Kevin Warsh is the new boss of the bank.
Locations
- USA
- The USA is a big country.
- Iran
- Iran is a country in the Middle East. It fights a war.
Sources
The Guardian
US inflation jumped to 3.8% in April as war with Iran continues to drive up prices
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