Saturday, 18 September 2010

US consumer prices rise, confidence falls

Reuters reports the US economic data released on Friday.

Underlying U.S. inflation pressures were muted in August and consumer morale hit a 13-month low this month, keeping fears of deflation alive and spurring bets on further monetary easing.

Consumer prices rose 0.3 percent last month as food prices rebounded and energy costs marched higher, the Labor Department said on Friday. But core prices, which ignore volatile food and energy costs, were unexpectedly flat...

Another report showed consumer sentiment deteriorated in early September. The Thomson Reuters/University of Michigan's preliminary September reading on consumer sentiment moved down to 66.6, the weakest reading since August 2009, from 68.9 in August.

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