Gasoline prices are displayed at a gas station in Vernon Hills, Ill., Friday, April 1, 2022. I …

Gasoline prices are displayed at a gas station in Vernon Hills, Ill., Friday, April 1, 2022. I ...

Gasoline prices are displayed at a gas station in Vernon Hills, Ill., Friday, April 1, 2022. Inflation soared over the past year at its fastest pace in more than 40 years, with costs for food, gasoline, housing and other necessities squeezing American consumers and wiping out the pay raises that many people have received. (AP Photo/Nam Y. Huh)