Jobs fall, inflation rise

November 17, 2007 at 2:17 am | Posted in economy | Leave a comment

A second government report on Thursday showed an unexpectedly steep rise in initial claims for jobless benefits last week, a suggestion the labor market is softening as the economy lumbers under the weight of a housing downturn, tighter credit and higher energy prices.

The Consumer Price Index, the most broadly used gauge of inflation, rose 0.3 percent in October for a second straight month as energy prices posted their biggest rise since May. Average monthly % rise inCPI in last 10 years is 0.212%

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