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Modest price increases caused the pace of inflation-adjusted earnings to rise at the strongest rate in six months
WASHINGTON—Consumer prices rose less than expected for the second straight month, a sign inflationary pressures remain in check despite solid economic growth and low unemployment.
While that’s good for American households finally starting to see their inflation-adjusted earnings rise, it also deepens the puzzle for the Federal Reserve as officials weigh how much to raise interest rates in the months ahead. Low unemployment calls for more rate increases, but slow inflation doesn’t.