Most of the economic indicators released last week confirmed that the recovery is progressing well, except for one persistent problem area inflation. The surge in the cost of goods and services that began at the start of the year continued in April, when the consumer price index kicked up nearly 1%, to a compound annual rate of 10%. It was the third month this year in which the zigzagging inflation rate has hovered at or close to the double-digit level. The main cause, as in January and February, was increases in the cost of food (the largest single rise: ground...
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