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Prices rise in US for fifth straight month

dpa logodpa 19/01/2017

After years of minimal inflation, the US has had its fifth consecutive month of rising consumer prices, suggesting a surge in economic growth.

Consumer prices in the US have risen for the fifth consecutive month.

The sign of pricing pressure, after years of minimal inflation despite unprecedented monetary stimulus, adds to mounting evidence of a year-end surge in US economic growth.

The seasonally adjusted consumer price index rose 0.3 per cent in December, the US Bureau of Labor Statistics said.

For the past 12 months, the index was up 2.1 per cent.

The so-called core index, which excludes volatile food and energy prices, rose 0.2 per cent in December.

The core inflation rate for the past 12 months was 2.2 per cent.

The rate-setting US Federal Reserve tightened monetary policy in December.

However, the central bank's benchmark interest rate remains near an unprecedented low in place since the 2008 financial crisis.

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