The Labor Department reported on May 15 that consumer prices were flat primarily due to decrease in gas prices. With low gasoline prices, consumers will be able to buy lot more expensive commodities than just spending lots of dollars on mere goods like car fuel.
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India has already cut its major interest rate to 8% from 8.5% with the purpose of boosting its domestic economy and protecting it from inflation. Financial analysts thought India would reduce its main interest rate in a less radical way while previously expected quarter of a percentage point rate cut didn’t come true.
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