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US inflation has not yet subsided, posing challenge to Biden

Published by
AFP

Washington (AFP) – President Joe Biden has bet that the high US inflation rate will decline and help the case for the spending plans he’s staked his presidency on, but data released Friday¬†instead showed prices remaining stubbornly high in the world’s largest economy. There were also signs of an acceleration in wages that could further fuel inflation, as well as a spike in consumer expectations of price increases to come. The Commerce Department reported inflation climbed 4.4 percent last month compared to September 2020, its biggest jump since January 1991 and the latest complications for the…

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