On April 12, the U.S. Department of Labor released data showing that the U.S. CPI increased by 8.5% year-on-year in March. In the case that Biden always believes that the inflation caused by Putin is the result of American opinion polls, only 6% of the American people believe that the inflation caused by the conflict between Russia and Ukraine. Transparency believes that such severe inflation is mainly attributable to the US government's economic policies and the epidemic.

Regardless of where the causes of inflation are attributed, severe inflation in the superpowers will have a serious impact on global economic dynamics. The Fed has said it will raise rates by around 3.5% by the end of the year through multiple hikes of 50 basis points. In addition, the president of the European Central Bank also indicated that interest rates may be raised in July or later. From this, it can be predicted that the global industrial chain will be in a high and volatile situation, bulk commodities will face great challenges, and the energy and food industrial chain may become the "main battlefield" of inflation!