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U.S. long-term inflation expectations unexpectedly accelerated in early May to a 12-year high and consumer sentiment soured, reflecting growing concerns about the economic outlook.

WASHINGTON — Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, a sign that declines in inflation are likely to be slow and bumpy.

The Federal Reserve reinforced its fight against high inflation May 3 by raising its key interest rate by a quarter-point to the highest level in 16 years.

WASHINGTON — A key index of underlying inflation that is closely followed by the Federal Reserve remained elevated in March, keeping the Fed on track to raise interest rates in May.

The U.S. economy slowed sharply from January to March, decelerating to a 1.1% annual pace as higher interest rates hammered the housing market and businesses reduced their inventories.

WASHINGTON — U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled with surging prices for nearly two years.

WASHINGTON — U.S. consumer price increases eased from January to February but still indicated elevated inflation, posing a challenge for the Federal Reserve's interest rate plans.

WASHINGTON — America’s employers added a substantial 311,000 jobs in February, fewer than January’s huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation.

Supply chains across the world are healing up almost as fast as they broke down. That doesn’t mean the pressure they’re exerting on inflation will disappear as quickly.

WASHINGTON — The Federal Reserve’s preferred inflation gauge rose in January at its fastest pace since June, an alarming sign that price pressures remain entrenched in the U.S. economy.