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U.S. consumer prices rose last month at the fastest annual pace in nearly 40 years, magnifying how rapid and persistent inflation is eroding paychecks and increasing pressure on the Federal Reserve to tighten monetary policy.

BUDAPEST, Hungary — From appliance stores in the United States to food markets in Hungary and gas stations in Poland, rising consumer prices fueled by high energy costs and supply chain disruptions are putting a pinch on households and businesses worldwide.

Canadian inflation climbed to the highest in two decades, adding pressure on the Bank of Canada to raise interest rates.

U.S. consumer prices rose in October at the fastest annual pace since 1990, cementing high inflation as a hallmark of the pandemic recovery and eroding spending power even as wages surge.

Benchmark wheat in Chicago climbed above $8 a bushel for the first time in almost nine years amid growing inflation pressures that threaten to raise already soaring food prices worldwide.

WASHINGTON — Inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since the Labor Department started calculating the 12-month number in 2010.

WASHINGTON — American consumers faced a third straight monthly surge in prices in June, the latest evidence that a rapid reopening of the economy is fueling pent-up spending for goods and services that in many cases remain in short supply.

The cost to ship a boxload of goods to the U.S. from China edged close to $10,000 as the world’s biggest economy keeps vacuuming up imports amid slower recoveries from the pandemic from Europe to Asia.

U.S. consumer prices rose in July by more than expected on a jump in auto and apparel costs, though inflation remained broadly muted as the pandemic suppressed demand.

A key measure of U.S. consumer prices rose more than forecast in June, potentially complicating the Federal Reserve’s assessment of inflation as policy makers weigh an interest-rate cut as soon as this month.