The Labor Department announced that for the month of October, consumer prices outpaced predictions due largely to higher energy prices and a jump in new car prices. Overall however, prices are down from last year and the inflation outlook remains subdued.
Prices for the month of October were 0.3 percent higher than the month before, compared to predictions of 0.2 percent. Core inflation, which excludes energy and food, rose 0.2 percent, compared with analysts’ expectation for a 0.1 percent rise, but when compared to October 2008, prices are still down 0.2 percent.
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