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The painful, burning sensation is caused by rising stomach acid. It moves from your stomach, where the lining is resistant to its corrosive effects, up into your esophagus, the lining of which is not similarly protected. It can climb all the way from the bottom of the esophagus all the way up into the throat.
Chest burning sensation can be a sign of a serious condition. Seek immediate medical care (call 911) if you experience a chest burning sensation along with shortness of breath, rapid heart rate, loss of consciousness, or severe trauma to chest.