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Price increases on imported goods in February coupled with U.S. dollar weakness suggests inflation will pick up this year, according to Reuters. These steadily increasing price pressures along with continued labor market strength could allow the Federal Reserve to raise interest rates next week, Reuters reports.

Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 226,000 for the week ended March 10, the Labor Department said on Thursday. Claims decreased to 210,000 during the week ended Feb. 24, which was the lowest level since December 1969.

With 313,000 jobs created in February, economists anticipate wage growth in the second half of 2018, Reuters reports.

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