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U.S. consumer prices surge for third month as cost of used cars soar, but inflation still low and expected to stay that way – MarketWatch

Consumer price index rises 0.4% in August; used car prices rev up

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The numbers: The cost of U.S. goods and services rose sharply in August for the third month in a row, but the increase mostly stemmed from a rebound in prices after a steep decline early in the coronavirus pandemic. Overall inflation is still quite low.The consumer price index, a measure of the cost of living, rose 0.4% last month, the government said Friday. The biggest spike in the cost of used cars and trucks in more than a half-century accounted for more than 40% of the increase in the index…

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