U.S. Inflation Quickens to 8.5%, Ratcheting Up Pressure on Fed

(Bloomberg) — U.S. consumer prices rose in March by the most since late 1981, underscoring the painfully high cost of living and reinforcing pressure on the Federal Reserve to raise interest rates even more aggressively.Most Read from BloombergThe consumer price index increased 8.5% from a year earlier following a 7.9% annual gain in February, Labor…