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Article: Labor department reports consumer price index hardly budged in October.
- Article from:
- The Bond Buyer
- Article date:
- November 17, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- A day after the Federal Reserve's latest move to tighten credit, the government yesterday reported that consumer prices are not showing any sign of speeding up.
The Labor Department said that the consumer price index in. October rose a barely noticeable 0.1% in October, resulting in a 2.6% rate of inflation compared with a year earlier. Excluding food and energy, prices were up 2.9% over the year.
"It's great," said Bruce Steinberg, head of macroeconomic analysis for Merrill Lynch & Co. "Inflation has yet to show any acceleration at the retail level. This is the best it's going to get, undoubtedly, but I don't think it's going to be ...