NEW YORK (AP) â The central question gripping Wall Street is whether the burst of inflation hitting the economy as it recovers from the pandemic is just temporary or the start of a real problem. The answer threatens to crack the stock market s incredible, record-setting run that began in March 2020.
Adding to the fog of the debate â and the uncertainty that has markets churning â is that more than a generation has passed on Wall Street since investors had any experience at all with high, long-lasting inflation.
What s clear is that the average cost of regular gasoline has jumped to $3.04 per gallon from $1.89 a year earlier. Used cars and trucks cost 21% more last month than a year before. Airline fares ascended nearly 10%.