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It was a stellar day for markets as all three major U.S. stock indexes closed at record highs on Wednesday.
That’s despite a sharper-than-expected month-on-month growth in U.S. consumer prices in August, according to the Labor Department, signaling that tariffs are likely raising inflationary heat.
While the monthly inflation reading overshot estimates from a Dow Jones survey by 0.1 percentage point, the headline annual reading, as well as both monthly and yearly core data, came in as expected.
