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The wild ride of pandemic consumer prices

Data: U.S Bureau of Labor Statistics; Chart: Michelle McGhee/Axios

Consumer prices have been more volatile over the past year than at any point in decades — for good reason.

Why it matters: Congress has tasked the Federal Reserve with ensuring price stability when it comes to consumer prices overall. But the price of a broad basket of goods and services can be pretty steady even if the various components inside that basket are gyrating wildly.

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