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Consumer Prices in U.S. Rise as Gasoline Jumps by Most in Year
The cost of living in the U.S. rose in June, paced by a jump in gasoline that is now reversing, bolstering Federal Reserve Chair Janet Yellen’s view that recent increases were temporary. The consumer price index increased 0.3 percent after a 0.4 percent gain the prior month, matching median forecast of 85 economists surveyed by Bloomberg, figures from the Labor Department showed today in Washington. The core measure, which excludes volatile food and fuel costs, increased 0.1 percent, less than projected. Inflation has failed to get a toehold as slowing global demand has prevented companies from exercising pricing ... (full story)