United States growth slowed sharply in the third quarter of the year. GDP grew at an annualized pace of 1.5% between July and September, according to the Department of Commerce, down from 3.9% in the second quarter. The slowdown was partly due to companies running down stockpiles of goods in their warehouses.
US consumer prices fell 0.1% in October as petrol prices dropped, the US Labor Department has said. Petrol prices fell 2.9%, the biggest drop since April. The cost of new cars, clothes and healthcare also fell. The decrease meant that annual inflation in the 12 months to October was just 1%.
US consumers prices fell in November due to a sharp drop in petrol prices, according to official figures, as inflation in the economy remained weak. The consumer price index fell 0.3% from October, the first decline since May, the US Labour Department said.
US consumer prices were flat in July for a second straight month and the year-over-year increase was the smallest since November 2010. In the 12 months to July the CPI rose 1.4%, slowing from June's 1.7% rise, the US Labour Department said on Wednesday.