WASHINGTON, D. C.: A larger-than-expected spike in inflation is the latest headache for US President Joe Biden and his bid to use massive government spending to both revitalize and reshape the world’s largest economy.
The Labor Department on Wednesday reported consumer prices were 4.2 percent higher last month than in April 2020, their biggest year-on-year increase since 2008 as the United States bounced back from the Covid-19 pandemic.
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