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Article: CONSUMER PRICES UP SLIGHTLY IN AUGUST, LEAVING ROOM FOR INTEREST CUT
- Article from:
- The Columbian (Vancouver, WA)
- Article date:
- September 19, 2001
- Author:
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JEANNINE AVERSA, Associated Press
The Columbian
09-19-2001
WASHINGTON -- Consumer prices were nearly flat in August as the costs of gasoline and other energy products tumbled. With inflation low, the Federal Reserve has leeway to cut interest rates further to deal with the economic fallout from the terrorist attacks, analysts said.
The Labor Department reported Tuesday that its Consumer Price Index, a closely watched inflation gauge, inched up 0.1 percent last month. In July, consumer prices fell 0.3 percent, the biggest drop in 15 years.
Even with the small uptick, analysts said inflation continued to be tame, a bit of good news as the Fed tries to keep the economy from tipping ...