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Prices climbed 7.5 percent in January, the fastest inflation since 1982.



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A key inflation measure showed that prices are climbing at the fastest pace in 40 years and more quickly than economists had expected, the latest unpleasant surprise for the White House and Federal Reserve after a bruising year for American consumers.Consumer Price Index data for January, released Thursday, showed that prices have climbed 7.5 percent over the past year, more than the 7.2 percent projected in a Bloomberg survey. On a monthly basis, they picked up 0.6 percent.That is rapid by historical standards, and although it is slower than the fastest monthly increases in 2021, it too was above economists’ expectations. The underlying details of the report showed that price pressures are broadening and moving into longer-last …

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