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Lower gasoline prices cause inflation to slow

 BY JIM PUZZANGHERA

Los Angeles Times (TNS)

WASHINGTON – Prices for a wide variety of consumer goods held steady in July, pushing down the annual inflation rate in a report that could add to economic concerns of Federal Reserve officials.

The rise in the consumer price index during the previous four months was halted by a 4.7 percent drop in gasoline prices in July, which offset modest increases in other goods and services, the Labor Department said Tuesday.

Consumer prices had risen 0.2 percent in June.

Analysts expected the overall index to be unchanged. But they had forecast that ...


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