Inflation just jumped the most in years. Why are markets largely ignoring it?

We all know about inflation, but "shrinkflation" may take you by surprise

Consumer prices just posted their largest one-month jump in nearly 13 years, a fact that might tempt some to conclude that a white-hot U.S. economy is on the brink of runaway inflation.

But a spike in the June 2021 consumer price index reading may, in fact, be little cause for alarm.

Markets, which have in recent months grown wary of rising prices and whether they will cause the Federal Reserve to act, appeared to keep their cool over inflation on Tuesday. Here’s what’s going on.

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