, Columnist
Hurtling Toward Double Digits — What Happens Now?
The Fed taking a step-by-step process will eventually tame inflation. The question is how many months, and at what cost.
A vendor sells food on a street in Mexico City, where inflation is lower than in the US.
Photographer: Alejandro Cegarra/BloombergThis article is for subscribers only.
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There’s no escaping inflation. I woke up this morning in a hotel in Mexico City, and watched the sun rise above the vast cityscape and the mountains beyond. But that was only for a few seconds before I turned on my Bloomberg, and discovered that US consumer price inflation over the last 12 months had topped 9%. I talked about it in real time on Twitter Spaces with my colleague Jonathan Levin and Kathryn Rooney Vera in a conversation you can find here.