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US inflation rises to 3% for first time since June
Financial Express Kochi
|February 13, 2025
US INFLATION PICKED up broadly at the start of the year, further diminishing chances the Federal Reserve will cut interest rates anytime soon.
The consumer price index rose 0.5% last month, the most since August 2023 and led by a range of household expenses like groceries and gas.
Shelter accounted for nearly 30% of the advance, according to the report from the Bureau of Labor Statistics on Wednesday.
Excluding often-volatile food and energy costs, the so-called core CPI also climbed by more than forecast.
That reflected higher prices for car insurance, airfares and a record monthly increase in the cost of prescription drugs.
This story is from the February 13, 2025 edition of Financial Express Kochi.
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