As the causes of US inflation grow, so do the dangers

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As the causes of US inflation grow, so do the dangers

WASHINGTON – 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.

Consumer prices, excluding volatile food and energy costs, skyrocketed 6.6% from a year ago — the fastest such pace in four decades. Overall inflation did decline a touch, mostly because of cheaper gas. But costlier food, medical care and housing pointed to a widening of price pressures across the economy.

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