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Rise in Consumer Price Index triggers inflation fears in U.S.

Staff Writer |
The Consumer Price Index rose a half-percent last month, well above the market estimate of 0.2 percent - marking the biggest increase in five months and spurring concerns about coming U.S. inflation.

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The CPI report, which indicates inflation trends, showed a rise in the cost of living for January that was driven by higher gasoline prices.

The Labor Department said the cost of food, housing, medical care and car insurance also rose last month.

The annual movement of the CPI is a bellwether statistic for inflation forecasts, and is one of the most closely watched national economic statistics.

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