Wednesday, May 17, 2006

Consumer Prices Rose Higher Than Expected in April

Higher energy costs pushed consumer prices up an unexpected 0.6 percent in April, leading to fears of rising inflation and possible action by the Federal Reserve to boost interest rates.

The stock market reacted negatively to the news, with the Dow Jones Industrial Average down 140.16points, or 1.23 percent, in midday trading to 11,279.73..

...this is more along the lines of the cynic's expertise, but i just couldn't resist...

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