Housing starts fell more than expected to 880,000 in January, while economists were anticipating 950,000. The core inflation on the Producer Price Index came in slightly higher than expected due to a big expected early-year increase in drug prices, UBS Securities Chief U.S. Economist Maury Harris tells TheStreet's Joe Deaux. Harris says investors should ignore weather-related issues in housing starts. Harris also says the uptick in the producer price index isn't likely to be sustained every month, especially after the big increase in drug prices.

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