Wall Street edges higher after US inflation report

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Wall Street edges higher after US inflation report

US main stock indexes have inched up and small-cap stocks outperformed after a benign inflation report cleared the way for the Federal Reserve to focus on shoring up the labour market while continuing its interest rate easing.

A Commerce Department’s report showed that consumer spending increased moderately in August, suggesting the economy retained some of its solid momentum in the third quarter while inflation pressures continued to abate.

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