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Daily Digit: Prices drop 0.3%

Friday, 14 Dec, 2012 - 00:46

Dec. 14 - U.S. consumer prices fall 0.3 percent, the first drop in the key inflation gauge in six months. Conway G. Gittens reports.

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The Daily Digit today is 0.3%. Maybe you didn't notice in the supermarket, but the U.S. Labor Department says its Consumer Price Index dropped 0.3% in November. It means things should be cheaper. The CPI is a measure of the change in the average price of a fixed basket of goods and services purchased by consumers. Last month's CPI drop came largely from a rollback in gasoline prices, which offset higher food costs. It was the largest decline since May and followed a 0.1% gain in October. The drop means that inflation remains at a level that won't derail the Federal Reserve's plans to keep interest rates near zero.

Daily Digit: Prices drop 0.3%

Friday, 14 Dec, 2012 - 00:46

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