US Inflation Increases Most in Decade

U.S. consumer prices jumped 2.4% in July, their biggest annual increase since before the financial crisis hit with force in September 2008. The increase in the government's core index outran wages, which fell 0.2% from a year ago. The Labor Department report released Friday, reinforces expectations for the Federal Reserve to continue raising interest rates to limit inflation. The Washington Post notes that modest wage gains have failed to keep up with rising inflation.


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