Inflation, housing starts, consumer confidenceNews
Consumer prices rose , housing starts fell, consumer confidence fell, producer prices rose and analysts believe the changes will work their way through the economy.
Consumer prices rose 1.2 percent in September, or at an annualized rate of 14.4 percent, the most in 25 years. Meanwhile, builders broke ground last month at an annual rate of 1.9 million homes, fewest new starts since last March. The University of Michigan's consumer sentiment study fell 1.5 percent in October, its lowest level in 13 years. Producer prices in September rose by 1.9% or at an annualized rate of 22.8 percent. This was the biggest rise in 15 years, and analysts believe the rise will work its way through the economy.
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