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Consumer prices show modest rise
Key inflation measure in line with Wall Street forecasts for November; inflation fears kept on hold.
December 17, 2004: 9:00 AM EST

NEW YORK (CNN/Money) - Prices paid by consumers in November showed a modest increase, the government said Friday, coming in line with Wall Street's expectations and staving off inflationary concerns for the time being.

The Labor Department's Consumer Price Index rose 0.2 percent in November, compared with 0.6 percent in October.

Economists surveyed by Briefing.com had forecast a 0.2 percent rise.

The so-called "core" CPI, which excludes often-volatile food and energy prices, gained 0.2 percent after a 0.2 percent rise in October. Economists had a consensus estimate of a 0.2 percent rise in core CPI.

The core number was boosted by a 0.7 percent rise in new car prices, a 1.2 percent jump in tenant insurance costs and a 0.6 percent increase in education costs.

The low inflation in the most recent report was helped by a 1.8 percent drop in gasoline prices. Transportation and commodities prices also posted small declines while housing, food, medical care and apparel showed modest gains.  Top of page




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