HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » Consumer prices post firs...
Introducing Discussionist: A new forum by the creators of DU

Fri Dec 14, 2012, 10:15 AM

Consumer prices post first drop in six months

(Reuters) - Consumer prices fell in November for the first time in six months, pointing to muted inflation pressures that should allow the Federal Reserve to stay on its ultra-easy monetary policy path as it nurses the economy back to health.

The Labor Department said on Friday its Consumer Price Index dropped 0.3 percent last month as a sharp decline in gasoline prices offset increases in other areas. It was also the largest drop since May and followed a 0.1 percent gain in October.

Economists polled by Reuters had expected consumer prices to fall 0.2 percent.

The so-called core CPI, which excludes food and energy prices, edged up 0.1 percent after rising 0.2 percent in October. Although food prices rose 0.2 percent in a lagged response to the summer drought, price pressures remain tame.

http://www.reuters.com/article/2012/12/14/us-usa-economy-prices-idUSBRE8BD0MY20121214

0 replies, 368 views

Reply to this thread

Back to top Alert abuse

Reply to this thread