Wholesale inflation rose 11.2% annually in March, driven largely by an increase in the price of gasoline, the Bureau of Labor Statistics reported on Wednesday.
Videos surfacing on social media in the past week from Shanghai – and rapidly deleted on government-controlled sites like Weibo – show mounting desperation as a poorly planned coronavirus lockdown leaves the heart of China’s economy with rotting food and a lack of basic necessities.
A recent study broke down the results of decades high inflation rates indicating that the average household is likely to shell out $5,200 paying the same expenses.