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Inflation heads towards Fed's 2% target as April CPI rises

Published Fri, May 22, 2015 · 09:50 PM

Washington

THE cost of living excluding food and fuel rose at a faster pace than expected in April, indicating US inflation is inching towards the Federal Reserve's goal.

The core consumer price index climbed 0.3 per cent, the biggest gain since January 2013, reflecting broad-based increases, a Labor Department report showed on Friday.

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