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US inflation unexpectedly increased to 3% in January

U.S. Inflation increased by 3% in January compared to a year ago, according to a report from the Labor Department.
Grocery prices rose 0.5% in January, driven by a 15.2% surge in egg prices, marking the largest monthly increase since June 2015.
Federal Reserve Chair Jerome Powell stated that the Fed does not need to rush into further interest rate cuts.
Sarah House, a senior economist at Wells Fargo, remarked, "We're really not making progress on inflation right now," indicating ongoing concerns about rising prices.

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MSNBC

Steve Rattner: America’s inflation problem isn’t over

Inflation perked up more than anticipated in January. Wednesday's consumer price index reading showed that the Fed’s battle with inflation is far from over — there’s little room for bad policy in this last stage of the Covid economic recovery, says Morning Joe economic analyst Steve Rattner.

9 days ago·United States

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The Macomb Daily

Study suggests grocery prices not as much of a burden in Michigan as other states

Charlene Loewer of Marysville does not do comparison shopping. So, she’s not sure if grocery prices in Michigan are higher or lower than most states. “I’m a bargain shopper,” Loewer said, during a trip to her local grocery store in Chesterfield Township. “I clip coupons and when something I like or something I normally buy is on sale I get it.” Coffee is one example. What used to cost $5.99 and $6.99 for a box of K-Cup pods (12 count) is now abo…

10 days ago

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WION

US inflation rises by the most since August 2023

U.S. inflation has been trending up in recent months but within the tolerance levels. The January report, though, presented a clear red alert to the Federal Reserve. U.S. inflation is suddenly an issue again after a surprise pop in January following a slow grind in recent months.

10 days ago·Noida, India

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News & Record

Grocery, gas prices rise as inflation accelerates

WASHINGTON — U.S. inflation accelerated last month as the cost of groceries, gasoline and rents rose, a disappointment for families and businesses struggling with higher costs and likely underscoring the Federal Reserve's resolve to delay further interest rate cuts.

10 days ago·Cherokee County, United States

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thepatriotlight.com

ThePatriotLight - U.S. consumer prices rise by 3.0% in January, faster than anticipated By Investing.com

ThePatriotLight - U.S. consumer prices rise by 3.0% in January, faster than anticipatedU.S. consumer prices rise by 3.0% in January, faster than anticipated By Investing.com

10 days ago

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