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Inflation picks up as U.S. consumer price index rises 0.3% in April
Inflation picks up as U.S. consumer price index rises 0.3% in April

The cost of living climbed in April at the quickest pace since last summer, a sign that the economy may be picking up speed. The consumer price index rose 0.3% last month, the biggest gain since June, the Labor Department said Thursday. Over the last 12 months, the cost of living has jumped 2%, an uptick from March's 1.5% annual increase. Driven by dry conditions in California and elsewhere, food prices rose 0.4% last month, the same as the previous two months. Groceries were up 0.4%. Energy prices also increased by 0.3%, driven in part by a 2.3% jump in gasoline prices. Gas prices have seen a sharp uptick in recent weeks as refineries switch over to producing the more expensive...

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