Concern is growing about U.S. inflation as consumer prices surge. Just about everything—from seafood to doughnuts and bagels—now costs more in grocery stores. Gasoline prices hit $3 a gallon this week as a foreign cyberattack shut down the biggest U.S. fuel pipeline. Rising prices may also complicate President Joe Biden’s effort to push through a multitrillion dollar infrastructure package. The economic demand is back, but supply is the problem, Mohamed El-Erian writes in Bloomberg Opinion. In developing countries, the bigger inflation scare is the increasing prospect of renewed social unrest. With the path of inflation still uncertain, here’s what top wealth advisers are warning their rich clients about.

What you’ll want to read this weekend

Fighting between Israel and Hamas has spilled over from rocket attacks and the bombing of Gaza to violence among Israelis as decades of pent-up grievances and nationalism exploded between Arabs and Jews. The crisis is dragging Biden into a vortex he sought to avoid.

The U.S. Centers for Disease Control and Prevention’s sudden decision to lift most mask requirements for vaccinated people put retailers, restaurants and companies in a complicated position. In Seychelles, health officials are trying to understand an outbreak of infections among the vaccinated.

Medical personnel administer a Chinese Covid-19 vaccine produced by Sinopharm at the Seychelles Hospital in Victoria on Jan. 10.

Photographer: Rassin Vannier/AFP

Elon Musk’s decision to stop accepting Bitcoin for car purchases at Tesla, citing environmental damage tied to crypto-mining, sent the digital currency tumbling. Crypto insiders claim the risks are overblown. A new digital token, called Internet Computer, amassed $45 billion in market value one day after its launch.
From Chipotle to your neighborhood café, restaurant managers are raising pay to attract waiters and chefs. Delta, unable to find enough workers, is seeking volunteers among employees to clean tables. Here’s how to quit your job in the great post-pandemic resignation boom.

This summer, sail through Greece’s photogenic Saronic Isles three different ways. Or try test-riding motorized surfboards in Miami—it’s super-fun, even if not super-easy.

What you’ll need to know next week

What you’ll want to see in Bloomberg Photos

The Week In Politics From the Lens of a Camera

A cyberattack by a Russia-linked criminal group against the biggest U.S. pipeline system disrupted the supply of gasoline, jet fuel and diesel from Atlanta to New York, underscoring the vulnerability of American supply chains. Republican lawmakers ousted Liz Cheney from her House leadership position for challenging ex-President Donald Trump’s false statements about the 2020 election, setting her up as a rebel leader in a party that’s taken a hard-right turn. There was a lot to see this week.

People wait in long lines for gas in Springfield, Virginia.

Photographer: Matt McClain/The Washington Post/Getty Images

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