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US Inflation Accelerates to 40-Year High


US inflation accelerated to a 7.5% annual rate in January, reaching a new four-decade high as strong consumer demand and pandemic-related supply constraints kept pushing up prices.

The Labor Department on Thursday said the consumer-price index — which measures what consumers pay for goods and services — was last month at its highest level since February 1982, when compared with January a year ago, and higher than December’s 7% annual rate. Inflation has been above 5% for the past eight months.

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