Sustained high inflation in the U.S. increases burden of mounting living costs on American residents

(Cartoon by Tan Xiguang)

Currently, the inflation rate in the U.S. has been running at a 40-year high, and more than three times the U.S. Federal Reserve's annual inflation target.

The sustained bout of high inflation has caused skyrocketing prices for daily necessities, including gasoline, housing and food, as well as increasing the burden of mounting living costs on average American people, putting enormous financial pressure on them and their families.