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The news also helped traders look past another report showing decades-high inflation and shake off some of the volatility from recent sessions. The Bureau of Labor Statistics' February Consumer Price Index (CPI) this week showed another surge in prices even before Russia escalated its attacks in Ukraine. The headline CPI — soaring 7.9% over last year — underscored the sticky inflationary pressures reverberating across the U.S. economy, with everything from groceries to rents and airline fares getting more expensive for everyday consumers. Just days after Russia invaded Ukraine, Durov wrote that Telegram was "increasingly becoming a source of unverified information," and he worried about the app being used to "incite ethnic hatred." He floated the idea of restricting the use of Telegram in Ukraine and Russia, a suggestion that was met with fierce opposition from users. Shortly after, Durov backed off the idea. This ability to mix the public and the private, as well as the ability to use bots to engage with users has proved to be problematic. In early 2021, a database selling phone numbers pulled from Facebook was selling numbers for $20 per lookup. Similarly, security researchers found a network of deepfake bots on the platform that were generating images of people submitted by users to create non-consensual imagery, some of which involved children. On Feb. 27, however, he admitted from his Russian-language account that "Telegram channels are increasingly becoming a source of unverified information related to Ukrainian events."
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