US inflation is up 6% as country’s economy is shaken by banking crisis

The US Labor department has reported that inflation in the country rose to 6% in February compared to the same period last year. Moody’s Investors Services, part of the ‘big three' rating agencies, has slashed outlook for the entire American banking system to ‘negative’. The country's economy has been shaken by financial turmoil following the collapse of two major US banks over the weekend.

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