US consumer prices fell 0.3 percent in November
Source: AP-Excite
By JOSH BOAK
WASHINGTON (AP) Plunging gasoline costs pulled U.S. consumer prices lower in November, muting inflation across the entire economy.
The Labor Department said Wednesday the inflation reading fell a seasonally-adjusted 0.3 percent last month, after prices were flat in October. Gas costs plummeted 10.5 percent in November, the steepest decline in nearly six years.
"If you're looking for signs of inflation, you will have to look elsewhere," said Jennifer Lee, an economist at BMO Capital Markets.
Core inflation, which excludes volatile energy and food prices, rose 0.1 percent in November. For the past 12 months, overall inflation has risen 1.3 percent while core inflation has increased 1.7 percent.
FULL story at link.
FILE - In this Nov. 28, 2014 file photo, a shopper enters clothing store Naartjie, inside the Flatirons Crossing Mall, in Broomfield, Colo. The Labor Department reports on November consumer prices on Wednesday, Dec. 17, 2014. (AP Photo/Brennan Linsley, File)
Read more: http://apnews.excite.com/article/20141217/us-consumer-prices-060395a633.html
Fred Sanders
(23,946 posts)the economy because of a recession in the energy sector that contributes a massive 2% to the GDP?
Big Oil and Big Media are angry that common folk are saving the money on transportation that rightfully belongs to them.
This is like a pay raise for all Americans.
Thanks, Obama.....
Lower oil prices resonate throughout the economy, it is a good thing, always has been, the current propaganda is not only massively wrong, it is silly, folks can see through this one I think.
What next, a demand for lower air fare from the folks?
closeupready
(29,503 posts)that it's bad news when prices (you know, for gas or food, i.e., luxury products, lol) go down.