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Despite big jump in food prices, inflation remained tame last month
Despite big jump in food prices, inflation remained tame last month

WASHINGTON -- Despite a sharp jump in food costs, consumer prices increased just 0.1% last month in an indication inflation remains in check, the Labor Department said Tuesday. Over the previous year, the consumer price index has risen 1.1%. The figure is well below the Federal Reserve's 2% annual target as central bank policymakers gather for a two-day meeting this week. February's increase was in line with analyst expectations and matched the previous month's rise. The one-year inflation rate also remained the same as in January. PHOTOS: Federal Reserve chairs through the years Driven by the drought in California and elsewhere, food prices surged 0.4% last month, the...

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