US price surges eased in the third quarter of the year.

A key measure of inflation grew at annualized rate of 5.3% in the third quarter of the year, data from the Bureau of Economic Analysis showed Wednesday. That compares with an increase of 6.5% in the second quarter.

The same report updated the pace of US economic growth between July and September to 2.1% on an annualized basis. An initial report last month said the economy had grown at a rate of 2% last quarter.

This is a developing story. It will be updated

The-CNN-Wire

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