Hikes in gas, food prices lower recovery expectations

Higher gas and food prices pushed overall consumer prices up in the Chicago metropolitan area and nationally in March, raising concerns that higher gas prices could put the brakes on the economic recovery.

Prices rose 0.8 percent in the Chicago metropolitan area in March from February.

Nationally, prices rose 0.5 percent, matching February's increase, the largest since the recession ended in June 2009.

So far, the spikes in food and gas prices haven't stopped businesses from stepping up hiring or slowed factory production, which rose in March for the ninth straight month. But employees are seeing small, if any, pay increases, leaving many little wiggle room. The …