Gold prices jump 1% as U.S. CPI rises 7.7% for the year in October
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Thursday, the U.S. Labor Department said its much-anticipated Consumer Price Index rose 0.4% last month after a 0.4% rise in September. Economists were looking for an increase of 0.6%. Core inflation, which strips out food and energy prices, also showed signs of cooling, rising 0.3%, down from the 0.6% rise in September. Economists were expecting to see a 0.5% rise.Although inflation appears to be cooling, the report noted that consumers are still seeing rising food and energy costs. The Energy index rose 1.8% last month, with both gasoline and electricity prices rising; however, natural gas prices dropped.The report said that energy prices increased 17.
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