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US consumer spending rises 0.2% in Jan; weekly jobless claims at 48-yr low

Inflation is also likely to get a boost from a tightening labor market

Reuters  |  WASHINGTON 

  US consumer prices increased in January, with a gauge of underlying inflation posting its largest gain in 12 months, bolstering views that price pressures will accelerate this year. Inflation is also likely to get a boost from a tightening labor market. Other data on Thursday showed the number of Americans filing for unemployment benefits fell last week to the lowest level in just over 48 years. A robust labor market and rising inflation could force the Federal Reserve to raise interest rates a bit more aggressively this year than currently anticipated to prevent the ...

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First Published: Thu, March 01 2018. 20:32 IST
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