EXPLAINER: Why are fears of high inflation getting worse?

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WASHINGTON (AP) — Gas prices are rising. Auto prices are soaring. Consumer goods companies are charging more for household basics like toilet paper, peanut butter and soft drinks. All of which is resurrecting fears of an economic threat that has all but disappeared over the past generation: Runaway inflation. Not since the late 1960s and early ’70s has the United States endured chronic high inflation, with consumer prices rising at or near double-digit percentages from one year to the next. Few economists think the nation is on the verge of uncontrollable high inflation. But worries among businesses, consumers and investors about uncomfortable high inflation are growing. 

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