The head of USA Treasury Yellen admitted that sanctions against Russia lead to increase of prices on food and petrol.
The anti-Russian sanctions are pushing up food and fuel prices on the US market. U.S. Treasury Chief Janet Yellen said this on Thursday, June 9.
“Our sanctions on Russia do have an impact on the cost of food and fuel,” she said.
The head of the U.S. Treasury noted that a decrease in fuel prices in the U.S. market is unlikely in the short term. However, she believes that one can hardly expect recession.
Earlier that day, Russian President Vladimir Putin said that the West associates the inflation growth with his name, but Moscow has nothing to do with it.
The day before, U.S. President Joe Biden called a “curse” the record inflation rate in the country.
On June 8th on Fox Business, host Stuart Varney said that Americans are sinking into pessimism as the idea of the “American Dream” abandons them amid soaring prices. According to him, the U.S. is in an “inflationary spiral,” the inflation rate is not going down, the price of a gallon (3.785 liters) of gasoline is increasing by 4-5 cents every day.
Meanwhile, on May 31, White House spokeswoman Karin Jean-Pierre said that Russia and President Vladimir Putin were responsible for the record gasoline prices in the United States.
On the same day, gasoline prices at gas stations in the US hit another all-time high. Americans now pay $4.622 per gallon (3.785 liters) of gasoline.
Previously, on May 22, it was reported that young mothers in the U.S. had a battle for the last packs of baby formula. The energy crisis has led to record inflation and rising prices for absolutely all goods, including baby food, which is almost unrealistic to find in the U.S..