BREAKING NEWS

Consumer prices rose 7 percent in the year through December, the fastest rate since 1982, casting a shadow over the U.S. economy.

Wednesday, January 12, 2022 8:35 AM EST

Policymakers have spent months waiting for inflation to fade, hoping supply chain problems might ease, allowing companies to catch up with booming consumer demand. Instead, continued waves of virus have locked down factories and shipping routes have struggled to work through extended backlogs as consumers continue to buy good from overseas at a rapid clip.

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