Business Highlights

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From rents to haircuts, Americans start to feel price hikes

WASHINGTON (AP) —An unfamiliar sight for U.S. consumers has emerged in parts of the economy — higher prices.

The price increases remain modest, but they are the largest since the Great Recession ended six years ago. These increases actually reflect a healthier economy as many businesses have finally grown confident enough to pass their own higher costs on to consumers without fear of losing customers.

Signs of emergent inflation are a key reason the Federal Reserve will likely raise interest rates from record lows later this year.