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US inflation survey rebounds in relief for Fed

[NEW YORK] An increasingly important gauge of US inflation rebounded last month from record low levels, adding to other firming price measures that could help pave the way for Federal Reserve interest rate hikes in the months ahead.

The New York Fed's survey of consumers found expectations for inflation one year in the future rose to 2.71 per cent in February, from January's 2.42 per cent, which was the lowest level since the survey began in mid-2013.

Median expectations three years in the future edged up to 2.62 per cent last month, from 2.45 per cent.


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