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Consumer Prices in U.S. Little Changed as Inflation Recedes
The cost of living was little changed in December, capping the third-smallest annual gain in the past decade, indicating U.S. inflation remains at bay. The unchanged reading in the consumer-price index matched the median estimate of 83 economists surveyed by Bloomberg and followed a 0.3 percent drop the prior month, Labor Department data showed today in Washington. Costs rose 1.7 percent in 2012, down from a 3 percent increase in 2011. Price increases will probably remain restrained as retailers like Target Corp. (TGT) use discounts to attract customers and budget battles in Washington hurt confidence. Federal ... (full story)
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