Economy News: CPI, Initial Claims Thursday, November 15, 4:50 PM ET
The Labor Department announced on Thursday that the consumer price index rose by a seasonally adjusted 0.1 percent in October, down from sharp gains of 0.6 percent during the two months prior due to a spike in gas prices. Gas prices fell by 0.6 percent last month, while food prices rose by 0.2 percent. Excluding volatile food and energy prices, the CPI increased by 0.2 percent last month.
The Labor Department also announced that the number of Americans filing new claims for jobless benefits increased to an eighteenth month high, in part due to Hurricane Sandy. Initial claims for state unemployment benefits increased by 78,000 to a seasonally adjusted 439,000, above analyst estimates of 375,000.
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