The Labor Department reported Wednesday that its Consumer Price Index rose 0.4 percent last month, in line with expectations, while core inflation, which excludes food and energy, was up a worse-than-expected 0.3 percent.
Private economists said the latest news on inflation virtually guaranteed a 17th straight interest rate hike by the Federal Reserve at the end of this month based on recent comments by Chairman Ben Bernanke and his colleagues that they are determined to combat rising price pressures.
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