As the causes of US inflation grow, so do the dangers
WASHINGTON (AP) – What keeps driving inflation so high? The answer, it seems, is nearly everything.
Supply chain snarls and parts shortages inflated the cost of factory goods when the economy rocketed out of the pandemic recession two years ago.
Then it was a surge in consumer spending fueled by federal stimulus checks.
Then Russia’s invasion of Ukraine disrupted gas and food supplies and sent those prices skyward.
Since March, the Federal Reserve has been aggressively raising interest rates to try to cool the price spikes.
So far, there’s little sign of progress.
Thursday’s report on consumer prices in September came in hotter than expected.
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10/14/2022 11:22:21 AM (GMT -5:00)