Inflation Starts to Make a Comeback

Mony
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WASHINGTON-—Prices rose more than expected for U.S. consumers last month, offering fresh evidence that a long run of exceptionally low inflation is ending and raising the possibility the Federal Reserve will pick up its pace of interest-rate increases.

A monthly measure of what households pay for everything except gasoline and food rose a seasonally adjusted 0.349% in January—the strongest one-month increase since March 2005—driven by broad-based increases in costs like rent, apparel and medical services.

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