Consumer prices fell by 1% in October, the largest drop in 61 years. This is the biggest one-month decline in prices since records began in February of 1947, and twice as large as the expected 0.5% decline. This decrease in inflation was brought about by a 8.6% drop in energy costs, including a 14.2% drop in gasoline prices, as well as a 0.1% drop in core consumer prices, which haven’t declined in over 25 years. Watch out for deals in the coming months. Analysts predict prices will fall even further in the future, as businesses seek to attract customers in the weak economy.
--Cody
This picture is taken from this photostream and used with permission of a Creative Commons license.
Post new comment