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BREAKING NEWS

US annual inflation falls

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US annual inflation falls

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Inflation in the US was unchanged in April from the month before, but compared with April last year consumer prices posted a 0.7 percent drop, the largest in half a century.

Food prices were lower for the third month running while energy costs declined for the second month in a row. The figures underscored that sluggish consumer demand means companies are not able to put up their prices. Rising unemployment has many Americans scared to spend on anything other than essentials in case they lose their jobs. Most economists believe the US will not see inflation for some time.