Consumer Prices Steady as Fed Weighs QE Taper: Economy
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The U.S. cost of living was unchanged in November, showing it will take time for inflation to approach the level desired by Federal Reserve officials, who begin their policy meeting today.
Cheaper gasoline, new cars and clothing held the consumer-price index in check after a 0.1 percent drop the prior month, according to data today from the Labor Department in Washington. The median forecast in a Bloomberg survey of economists called for a 0.1 percent gain. Prices rose 1.2 percent in the 12 months to November after a 1 percent year-over-year advance in October.