Reply #5: hardly. housing is the only thing going down. [View All]

Prices Bytes

December 16, 2009

Higher energy prices push down real hourly wages.

Inflation rose 0.4 percent in November, driven by large increases in energy prices.

Over the last quarter, consumer prices generally rose at a 3.4 percent annual rate, while core (non-food, non-energy) prices rose at a 1.5 percent annual rate.

The glut of housing has now resulted in a third consecutive month of price declines in both rent and owners’ equivalent rent....Rent continues to hold down inflation; non-shelter prices rose at a 5.6 percent annualized rate since August.

The price of used cars and trucks rose 2.0 percent in November...

Energy prices rose 4.1 percent in the month and at a 27.9 percent annualized rate over the last three months...

The November price report continues to show the pressures on state and local budgets. Tobacco prices rose another 1.0 percent in the month and nearly 10 percent annualized over the last three.

Public transportation prices rose 2.6 percent in November—the 25 percent annual rate of increase over the quarter in part reflecting higher fuel prices.

Non-fuel import prices rose 0.4 percent in November after similar changes in the prior three months...

http://www.cepr.net/index.php/data-bytes/prices-bytes/rent-falls-third-month/