Kansas City Fed: Recovering Industries Could Trigger Inflation

Inflation may be rearing its ugly head in the US economy sooner than predicted.

According to Business Insider, a recovery of the US's hardest-hit businesses could drive a faster-than-expected rebound for inflation.

The US Federal Reserve aims to reach inflation of at least 2% before considering lifting its benchmark interest rate.

However, price growth has trended below that level for years and fell further at the start of the pandemic.