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US Inflation Remains Modest

Prices in the U.S. economy rose a modest eight-tenths of a percent over the past 12 months. Tuesday's report from the Labor Department shows the rate of inflation was a bit slower in July than the previous month, as gasoline prices declined. A key measure of inflation remains below the U.S. Federal Reserve's inflation target, which may make it less likely that the central bank will raise interest rates in September. During the recession, the Fed cut rates to nearly...

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