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Consumer prices fall for first time in 16 months on lower gas costs
Consumer prices fall for first time in 16 months on lower gas costs

Consumer prices fell in August for the first time in 16 months as lower gasoline costs helped keep inflation tame, the Labor Department said Wednesday. The report should ease pressure on Federal Reserve policymakers, meeting this week, to start raising near-zero interest rates. Many analysts and some Fed officials have urged an increase to avoid a potential surge in inflation as the economy improves. The Consumer Price Index, a closely watched inflation measure, decreased 0.2% last month after a 0.1% rise in July, according to the Labor Department. It was the first decline in prices for a wide range of consumer products tracked by the government since April 2013. Analysts had...

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