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June’s US consumer price index (including clothes, groceries, restaurant meals, recreational activities and vehicles) increased 5.4% from a year ago, the highest 12-month rate since August 2008. The so-called core price index, which excludes food and energy, rose 4.5% year over year. The seasonally adjusted 0.9% rise in June from May was the largest one-month change since June 2008 (a price peak that cycle).
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