Inflation is back: How high and how long will prices go up?

  • Customers wear protective masks as they browse in the retail shopping district of the SoHo neighborhood of the Manhattan borough of New York, Friday, May 14, 2021. Inflation is back, after decades in which consumer prices rose hardly at all and economists worried about the dangers of deflation and the economic stagnation it can bring. . (AP Photo/John Minchillo)

  • FILE - In this April 29, 2020 file photo, a shopper wears a mask as she looks over meat products at a grocery store in Dallas. Leo Feler, a UCLA economist who is preparing the inflation section of the Anderson Forecast, said prices for food consumed at home, which rose in April, should start to revert as people go out more. And as supply constraints and bottlenecks clear up, other inflationary pressures also will fade. (AP Photo/LM Otero, File)

  • Inflation is back, after decades in which consumer prices rose hardly at all and economists worried about the dangers of deflation and the economic stagnation it can bring. (Dreamstime/TNS)

  • Customers wait in a line before entering a store on Broadway while wearing protective masks in the retail shopping district of the SoHo neighborhood of the Manhattan borough of New York, Friday, May 14, 2021. Inflation is back, after decades in which consumer prices rose hardly at all and economists worried about the dangers of deflation and the economic stagnation it can bring. (AP Photo/John Minchillo)

Used car and truck prices jumped 10% between March and April, the largest increase in nearly 70 years. Airfares and hotel rates rose about as much. And consumers paid significantly more for computers, shoes, furniture, sporting equipment and a host of other goods and services.