Thanks, Obama! U.S. Consumer Prices, Jobless Claims Both Rising…

Rising global demand for food and fuel pushed up the U.S. cost of living more than forecast in January. The consumer-price index advanced 0.4 percent for a second month, led by the biggest increase in food costs in more than two years, according to figures today from the Labor Department in Washington.

Americans are paying more for air travel and clothing as growing economies in Asia and Latin America boost demand for commodities like oil and cotton.

Another report today showing more people than projected filed claims for jobless benefits last week indicates workers don’t have the power to seek bigger pay increases, evidence inflation is unlikely to flare.

From: http://www.bloomberg.com/news/2011-02-17/consumer-prices-in-u-s-rise-more-than-forecast-on-higher-food-fuel-costs.html

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