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US inflation likely surged to new record in November
The latest measure of inflation is projected to show another eye-popping figure as the price of everyday consumer goods soared higher in November. The Labor Department is releasing the highly anticipated consumer price index on Friday morning, providing a fresh look at just how hot inflation ran last month. Economists expect the gauge – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – to show that prices surged 6.8% in November from the year-ago period, toppling the previous month's 31-year high of 6.2%. On a month-to-month basis, economists forecast the index would ... (full story)