The Bureau of Labor Statistics reports inflation in the U.S. economy increased by 0.2% in March, after increasing by 0.1% in each of February and January. In total, prices have increased by 0.4% in the first three months of the year. (Source: Bureau of Labor Statistics, May 12, 2014.) If we extrapolate these “official” numbers for the entire year, inflation will come in at roughly 1.6% in all of 2014.
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