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Consumer prices rose 0.3% in December, higher than expected, pushing the annual rate to 3.4%

In December, the United States experienced a 3.4% year-over-year increase in inflation, marking a 0.3% jump from the previous month and slightly exceeding forecasts by economic experts. This data was highlighted in the latest federal report issued yesterday. The inflation rate had reached its zenith at 9.1% in June 2022 but has been kept below 4% since May.

The Consumer Price Index (CPI), a key indicator that tracks the price variations of a diverse array of goods and services, witnessed a 3.9% escalation over the past year, excluding the often fluctuating costs of food and energy. A significant contributor to this rise was the surge in shelter expenses, which climbed 0.5% compared to November and escalated by 6.2% on an annual basis. Economic analysts suggest that the increased mortgage interest rates have constricted the availability of housing, leading to a spike in residential property prices.

The Federal Reserve, tasked with the objective of stabilizing inflation around 2%, has maintained the federal funds rate within the range of 5.25% to 5.5%. This decision follows 11 rate hikes since March 2022. There is an anticipation in the financial sectors that the Federal Reserve might commence lowering these rates, potentially starting as early as March this year.

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Huge ancient lost city found in the Amazon

Recently, archaeologists unveiled a significant discovery in present-day Ecuador - a series of ancient Amazonian structures, as revealed in the latest research published yesterday. Dating back about 2,000 years and thriving for approximately a millennium, these settlements are estimated to have housed up to 30,000 inhabitants at their height, a population size comparable to that of London during the Roman Empire era.

This archaeological marvel was uncovered using LiDAR technology (Light Detection and Ranging), a method that utilizes airborne laser scanning to measure variations in the Earth's surface. This technique is particularly effective in penetrating thick forest canopies or subterranean layers, allowing for a detailed glimpse of what lies beneath without the need for extensive on-the-ground excavations. The application of LiDAR, a technology also integral to the functioning of many autonomous vehicles for road navigation, has brought a transformative impact on archaeological exploration.

This discovery is part of a series of recent findings in the Amazon region, including a vast urban complex discovered in the Bolivian Amazon two years prior.

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Bill Belichick leaving Patriots after 24 seasons, six titles

After an extraordinary tenure of 24 seasons, Bill Belichick announced on Thursday that he will step down as the coach of the New England Patriots. Reflecting on his journey, Belichick expressed gratitude for an unparalleled career in NFL history that saw him lead the team to six Super Bowl victories.

Throughout this week, Belichick engaged in several discussions with Patriots owner Robert Kraft, deliberating over the future direction for both parties. Insiders familiar with these dialogues report that the conversations were harmonious, without any disputes. Ultimately, these constructive discussions led to a mutual agreement, concluding in a decision that both Belichick and Kraft found satisfactory and comforting.

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