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August CPI Report Shows Inflation at a 3.4% Annual Rate, Above Forecasts

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The consumer price index rose 0.4% in August after rising 0.1% in July, according to the U.S. Department of Labor. Excluding the volatile food and energy categories, so-called core prices rose 0.3%, matching the July increase. Economists had expected the CPI to rise 0.4% on a monthly basis,…

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