Prices rose 5.4 percent in June compared to a year ago, marking the largest spike since 2008, as the pandemic-battered economy regains its footing, the Washington Post website reports today (July 13, 2021).
Inflation has been on a steep rise for about four months, as the recovery gains steam.
Policymakers at the Federal Reserve and the White House have asserted the price pops are not here to stay, and it will take patience for the economy to come back to full strength and for prices to simmer down.
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