The current bout of inflation is a moment of déjà vu for people who lived through the price hikes of the early 1980s.
U.S. inflation accelerated to a 7.5% annual rate in January, reaching a four-decade high. The consumer-price index—which measures what people pay for goods and services—was last month at its highest level since February 1982, when compared with January a year ago, according to the Labor Department.
