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US inflation heats up in September; Fed rate hike this month back on table
WASHINGTON: US consumer prices accelerated in September as the cost of gasoline surged, dealing another blow to President Donald Trump and his Republican Party ahead of the November 3 midterm elections and putting an interest rate increase later this month back on the radar. The Consumer Price Index report from the Labor Department on Wednesday showed a broadening of price pressures beyond energy, raising concerns among economists that underlying inflation could be getting sticky. Financial markets now see the Federal Reserve’s interest rate decision this month as a closer call than before the...
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