An important measure of inflation for consumers fell in October, according to a Labor Department report today.

The consumer price index fell by a seasonally adjusted 0.1% in October.

Excluding food and energy costs, the core reading of consumer prices rose 0.1%.

Core CPI has risen 2.1% since October 2010.

The Federal Reserve keeps a close eye on inflation when determining its monetary policy stance.

Renewed concerns for the European debt crisis are driving stocks lower generally today, and better-than-expected US industrial output figures are doing nothing to help.

US stocks are trending lower, with the SPDR S&P 500 trading down over .7% Wednesday.

The US Dollar Bullish Fund is trading up over .2%, while the Euro Trust trades down over .2%.

Gold is trading xx, leading the SPDR Gold Shares to trade down over 1.4%, while the iShares Gold Trust trades down 1.5%.

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