Business Highlights: Consumer prices, ransomware gang

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US consumer prices surge in June by the most since 2008

WASHINGTON (AP) — Prices for U.S. consumers jumped in June by the most in 13 years, signaling that a swift rebound in spending has run up against widespread supply shortages that have escalated the costs of many goods and services. Tuesday’s report from the Labor Department showed that consumer prices in June rose 0.9% from May and 5.4% over the past year — the sharpest 12-month inflation spike since August 2008. Excluding volatile oil and gas prices, so-called core inflation rose 4.5% in the past year, the largest increase since November 1991.

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Touting new trains, Amtrak CEO foresees riders heading back

DETROIT (AP) — Amtrak CEO William Flynn says that plans to spend $7.3 billion on 83 new trains to replace some that are 50 years old will speed up travel, make it more comfortable, and will help clean the environment. The passenger railroad last week announced plans to buy the new…

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