American workers are about to feel the squeeze of the sharpest inflation surge in years — and human resources leaders may be the ones left managing the fallout.

The Survey of Professional Forecasters, a blue-ribbon panel polled quarterly by the Federal Reserve Bank of Philadelphia, now projects consumer price inflation will reach 6% in the second quarter — more than double its estimate of 2.7% just three months ago. The dramatic revision follows a string of troubling economic data, including a producer price index rate of 6% in April, the highest since December 2022, and headline consumer prices running at a 3.8% annual rate, the steepest increase in nearly three years. READ MORE