Is using `aria-labelledby` redundant on an `input` element if already has an associated `label`?

Is there any point of the former over the latter?

<label for="foo" id="bar">Label</label>
<input id="foo" aria-labelledby="bar" />

vs.
<label for="foo">Label</label>
<input id="foo" />

Or is that relationship automatically inferred?
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