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U.S. Consumer Prices Show Unexpected Drop In October

With energy prices showing a notable decrease, the Labor Department released a report on Wednesday showing an unexpected drop in consumer prices in the month of October.

The Labor Department said its consumer price index edged down by 0.1 percent in October after rising by 0.2 percent in September. The drop came as a surprise to economists, who had expected consumer prices to come in unchanged.

Meanwhile, core consumer prices, which exclude food and energy prices, inched up by 0.1 percent for the third straight month. Economists had expected core prices to rise by 0.2 percent.

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