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Meanwhile, pharmaceuticals and communications equipment led core prices higher. Higher wholesale prices don't always mean consumers will soon pay more. High unemployment and weak pay gains are making it difficult for retailers to pass on higher costs to consumers. Low inflation means consumers can spend more on other goods and services, which helps the economy. As long as the inflation outlook stays mild, the Fed said it plans to keep the short-term interest rate it controls near zero until the unemployment rate falls to at least 6.5 percent.
[Associated
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