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Consumer prices hold steady

The figures for the consumer price index for July have been released. The results may be able to help stop the roller coaster ride on Wall Street. When you head out to the store how much are you paying for the stuff you buy? According to a new government report your recent shopping trips probably are not seeing much in terms of price hikes. The closely watched consumer price index went up just a tenth of a per cent during July. That's the smallest one-month increase in eight months and should help quell fears that inflation is a problem. Recent drops in the price of gasoline are helping keep retail prices in check and the report should help cool the Wall Street roller coaster ride that's been making investors queasy during the past month. As inflation pressures go away the Federal Reserve is better able to cut interest rates to counter the selling pressure on Wall Street. Traders have been increasingly calling for a rate cut as soon as the September fed meeting. The central bank has not changed rates in more than a year.

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