
Shoppers look for school supplies at a store, July 27, in South Miami, Florida. Economists are saying strong consumer demand, spurred by rising wages, is fueling inflation. (AP Photo: Marta Lavandier)
U.S. inflation is showing signs of entering a more stubborn phase that will likely require drastic action by the Federal Reserve, a shift that has panicked financial markets and heightens the risks of a recession.

