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Economic Report: CPI shows smallest inflation gain since the summer

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Consumers are facing the highest inflation in several years.

American consumers paid slightly more in February for good and services such as groceries and rent, reflecting upward pressure on inflation that’s intensified since last summer.

The consumer price index, or cost of living, rose by a seasonally adjusted 0.1% last month, the government said Wednesday.

Economists polled by MarketWatch had forecast a 0.1% gain. U.S. stocks opened higher after data on inflation, retail sales and New York-area manufacturing.

Although the increase in prices in February was the smallest since last summer, inflation has risen sharply since the middle of 2015.

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