Consumer prices and employer costs are rising at their fastest pace in decades, as Fed moves to douse inflation.
multiple times this year beginning in March to try to get escalating prices under control.
The inflation figure that the government reported Friday is its personal consumption expenditures index. Though the Consumer Price Index is a better-known barometer, the Fed tends to track the PCE in setting its interest rate policies. The PCE index tracks actual purchases consumers make each month, while the CPI follows a fixed market basket of goods., also the fastest pace in nearly four decades.
On Thursday, McDonald's said that while sales last year grew at a healthy pace, higher costs for food and paper products and the need to raise pay to attract and keep workers eroded profits even after it had raised prices 6% last year.
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