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U.S. inflation steadily firming; labor market strong

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - U.S. consumer prices recorded their largest increase in nearly 6-1/2 years in the year through June, while the monthly pace continued to suggest a steady buildup of inflation that could keep the Federal Reserve on a path of gradual interest rate increases.Other data on Thursday showed first-time applications for unemployment benefits dropped to a two-month low last week as the labor market strengthened further. The tight jobs market is supporting inflation, and import tariffs, which are set to be broadened to include consumer goods, could fan price ...

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First Published: Thu, July 12 2018. 21:34 IST
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