Consumer prices have been creeping upwards over the past year, pushing inflation to its highest point in more than six years, The Associated Press reported Thursday.
The Labor Department said that inflation is up 2.9 percent compared to a year ago, even though the consumer price index only jumped a modest 0.1 percent since last month. That's the largest annual gain since 2012, which for some products has offset one-third of the benefit of last year's GOP tax cut bill.
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