PORTLAND, Maine — With inflation raging and state coffers flush with cash, governors and lawmakers across the U.S. are considering a relatively simple solution to help ease the pain people are feeling at the gas pump and grocery store — sending money.

The Federal Reserve raised interest rates by a quarter percentage point and signaled six more such hikes this year, launching a campaign to tackle the fastest inflation in four decades even as risks to economic growth mount.

Growth in U.S. retail sales slowed in February after surging a month earlier, suggesting that consumers tempered their spending in some categories as inflation limited purchasing power.

WASHINGTON — Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of higher prices to come.

WASHINGTON — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia’s invasion of Ukraine.

WASHINGTON — Since the pandemic erupted two years ago, Forest Ramsey and his wife, Kelly, have held the line on prices at their gourmet chocolate shop in Louisville, Ky. Now, they’re about to throw in the towel.

U.S. consumer prices surged in January by more than expected, sending the annual inflation rate to a fresh four-decade high and adding more urgency to the Federal Reserve’s plans to start raising interest rates.

U.S. consumer prices are likely to extend their eye-popping gains after soaring last year by the most in nearly four decades, further burdening Americans and ramping up pressure on policymakers to act.

The American consumer has held strong since last year’s COVID-driven spending pause, as their purchases helped power the global economic recovery. But that momentum may be fading as the holiday season approaches.

U.S. consumer prices rose last month at the fastest annual pace in nearly 40 years, magnifying how rapid and persistent inflation is eroding paychecks and increasing pressure on the Federal Reserve to tighten monetary policy.