Wednesday, November 19, 2008

CPI FALLS...YEAH RIGHT!...DID YOUR PRICES FALL?

Consumer prices fall record 1% on record energy drop By Ruth Mantell Last update: 8:30 a.m. EST Nov. 19, 2008 WASHINGTON (MarketWatch) -- U.S. consumer prices declined a record 1% in October, seasonally adjusted, as energy prices fell a record 8.6%, the Labor Department reported Wednesday. Data on the overall CPI date back to 1947, and the energy data go back to 1957. Meanwhile, food prices in October rose 0.3%, the smallest gain since May. The core consumer price index - which excludes food and energy prices - fell 0.1%, the first time there's been a decline in the core rate since 1982. Economists surveyed by MarketWatch had expected the overall October CPI to fall 0.9%, and for the core to rise 0.1%.

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