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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