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U.S. Consumer Prices Dip 0.1% In December

Consumer prices in the U.S. edged slightly lower in the month of December, according to a report released by the Labor Department on Friday, with the modest decrease largely reflecting a steep drop in gasoline prices.

The Labor Department said its consumer price index slipped by 0.1 percent in December after coming in unchanged in November. The slight drop in consumer prices matched economist estimates.

Excluding food and energy prices, the core consumer price index rose by 0.2 percent in December, matching the increases seen in the two previous months as well as expectations.

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