In One Chart: Why is the Fed more worried about inflation? Look at these rising price gauges

The Federal Reserve on Wednesday acknowledged inflation has perked up in the U.S., adding to a growing belief the central bank will raise interest rates this year faster than previously planned.

The bank left its benchmark fed funds rate unchanged at the end of its two-day meeting in Washington. Yet the Fed also included somewhat more hawkish language in its official statement about inflation.

“On a 12-month basis, both overall inflation and inflation for items other than food and energy have moved close to 2%,” the statement said. “Inflation on a 12-month basis is expected to run near the Committee’s symmetric 2 percent objective over the medium term.

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