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By Robin Harding in Rockford, Illinois, and Alan Rappeport in New York
Published: February 17 2011 14:28 | Last updated: February 17 2011 20:49
Core consumer price inflation in the US seems to have broken the downward trend that led the Federal Reserve to launch a new $600bn round of asset purchases last November, with a 1 per cent year-on-year rise in January.
While it is still too early to say that core inflation will sustain its upward path, it now looks like core CPI, which excludes volatile food and energy prices, may have hit a trough in October with a 0.6 per cent year-on-year increase.
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