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US housing starts tumble

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US housing starts tumble

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Construction of new homes in the US unexpectedly tumbled in October to the lowest level in six months.

Housing starts fell 10.6 percent indicating potential weakness in the recovery of the US economy. At the same time the latest inflation figures revealed that US consumer prices rose slightly more than expected, they were up 0.3 percent in October from September. That was mostly from increases in energy and the price of cars. The figures showed the world’s largest economy may have to confront some inflation threats during its recovery from the worst recession in 70 years.