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US core consumer prices fall

Date: Friday 19 Feb 2010

US core consumer prices fall

US consumer prices, excluding the effect of volatile items such as energy and foodstuffs, fell in January for the first time since December 1982.

The core consumer prices index showed a 0.1% fall in January against expectations of a 0.1% increase.

The regular consumer prices index (CPI) rose 0.2%, seasonally adjusted, on the back of higher energy prices. Economists had been tipping a rise of 0.3%. Soft pricing conditions in the hotel and airlines businesses as well as lower prices of new cars held the rise of the index in check.

The January CPI was 2.6% higher on January 2008. The core CPI was up 1.6% year on year.

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