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Key inflation gauge worsened in January, before Iran war lifted gas prices

WASHINGTON (AP) — An inflation gauge closely monitored by the Federal Reserve moved higher in January in the latest sign that prices were persistently elevated even before the Iran war caused spikes in oil and gas costs. Prices rose 2. 8% in January compared with a year earlier, the Commerce Department said Friday, slightly below December’s increase in a report that was delayed by last fall’s six-week government shutdown. The shutdown created a backlog of data that is nearly cleared. Yet...

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