Consumer Prices Jump in Sign of Firming Inflation

Mony
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WASHINGTON—A closely watched gauge of U.S. inflation picked up more than expected last month, a further sign price pressures are firming after a long run of softness.

The consumer-price index, which measures what Americans pay for everything from salad dressing to fares on public transportation, rose a seasonally adjusted 0.5% in January, the Labor Department said Wednesday. Excluding the volatile food and energy categories, so-called core prices rose 0.3%.

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