Inflation Numbers Mock Optimists as Price Pressures Re-Emerge

The pace of price increases, running at levels not seen in 40 years, exceeded analysts’ estimates and is far above the Federal Reserve’s 2 percent annual inflation target.

AP/Eduardo Munoz Alvarez
Cashiers at a Walmart Supercenter in North Bergen, New Jersey, February 9, 2023. AP/Eduardo Munoz Alvarez

WASHINGTON — January’s consumer price report from the government signals that stubborn inflationary pressures in the economy are likely to fuel price spikes well into this year.

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