Consumer prices in January up more than expected
Report sparks fears of inflation which could force the Fed to be a bit more aggressive in raising rates this year
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Washington
US consumer prices rose more than expected in January, with a measure of underlying inflation posting its biggest gain in a year, strengthening expectations that price pressures will accelerate this year and prompt a faster pace of interest rate increases from the Federal Reserve.
US stocks fell early Wednesday following the data report as fears of faster Federal Reserve interest rate hikes threatened to end a three-day streak of stock gains. Inflation concerns had sparked a sell-off on Wall Street and boosted benchmark US Treasury yields to a four-year high.
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