Pressure is mounting for the Federal Reserve to rein in inflation more aggressively after consumer prices rose once again, bringing inflation to levels not seen since the Great Inflation of the 1960s and 1970s.

Consumer prices rose 7.5% in the 12 months ending in January, the fastest pace of inflation in four decades and a sizable half percentage point increase from December’s number. Prices rose for a wide range of items, including housing, cars, and groceries.

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