Inflation Digs In to Start 2023, Pointing to Longer Fed Fight
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Consumer prices rose 0.5% in January, the most in three months, and the annual inflation rate came in at a higher-than-expected 6.4%. In some key categories, from energy to various goods such as clothing, the slowdown in costs that was a feature of the final months of 2022 looks to have stalled out – or even reversed.
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