Fed Says Price Rises Robust Amid Strong Demand, Supply Snags

The U.S. economy grew at a modest to moderate pace through mid-November while price hikes were widespread amid supply-chain disruptions and labor shortages, the Federal Reserve said.

“There were wide-ranging input cost increases stemming from strong demand for raw materials, logistical challenges, and labor-market tightness,” the U.S. central bank said in its Beige Book survey released Wednesday. “Prices rose at a moderate to robust pace, with price hikes widespread across sectors of the economy.”