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The Boston Globe

Business

Consumer prices in US fall with the cost of gas

Weak inflation gives Fed leeway on interest rates

WASHINGTON — US consumer prices declined last month as the cost of gas fell sharply and food prices were unchanged. The tame reading is the latest evidence that the sluggish economy is keeping inflation in check.

The consumer price index declined a seasonally adjusted 0.2 percent in March, after jumping 0.7 percent in February, the Labor Department said Tuesday. Gas prices fell 4.4 percent, reversing part of February’s 9.1 percent gain.

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