U.S. consumer prices post biggest gain in 8-1/2 years as economy reopens By Reuters
By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices rose by the most in more than 8-1/2 years in March as increased vaccinations and massive fiscal stimulus unleashed pent-up demand, kicking off what most economists expect will be a brief period of higher inflation. The report from the Labor Department on Tuesday also showed a firming in underlying prices last month as the broader reopening of the economy bumps against bottlenecks in the supply chain, capacity constraints and higher commodity prices. Federal Reserve Chair Jerome Powell and many economists view higher inflation as transitory, with...
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