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And while the GDP continues to grow at the strong pace of 3.8% per annum (per annum is a Latin phrase meaning "for the entire annum"), inflation is quite tame:
Wall Street was encouraged by the latest reading of the Labor Department's Consumer Price Index, which measures how much consumers pay at the retail level. The CPI was unexpectedly flat for June, while "core" CPI -- with food and fuel costs removed -- edged just 0.1 percent higher.