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Consumer prices rise to highest level since 1981

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U.S. consumer prices in March jumped to their highest level since 1981, according to Labor Department data released this morning.

The consumer price index was up 8.5% from a year ago on an unadjusted basis. Excluding food and energy, the CPI increased 6.5%.

Real earnings, despite rising 5.6% from a year ago, did not keep pace with the increase in cost of living, according to CNBC.

Read more from CNBC.

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