The break statement, like in C, breaks out of the smallest enclosing for or while loop.
The continue statement, also borrowed from C, continues with the next iteration of the loop.
Loop statements may have an else clause; it is executed when the loop terminates through exhaustion of the list (with for) or when the condition becomes false (with while), but not when the loop is terminated by a break statement. This is exemplified by the following loop, which searches for prime numbers:
>>> for n in range(2, 10): ... for x in range(2, n): ... if n % x == 0: ... print n, 'equals', x, '*', n/x ... break ... else: ... print n, 'is a prime number' ... 2 is a prime number 3 is a prime number 4 equals 2 * 2 5 is a prime number 6 equals 2 * 3 7 is a prime number 8 equals 2 * 4 9 equals 3 * 3