Consumer Prices Fall in December

ngConsumer prices fell in December -0.4 percent, the steepest decline in 6 years, led by the decline in oil prices, according to new data today released by the Labor Department and matching a forecast from briefing.com.

The gasoline index continued its slide in December, declining 9.4 percent while the energy index posted its largest one-month decline since December 2008.

In November consumer prices declined -0.3 percent compared to October’s 0.0 percent.

Core CPI, subtracting food and energy, was 0.0 percent in December after a 0.1 increase in November and a 0.2 increase in October.

The all items index increased 0.8 percent over the last 12 months ending in December, down from 1.3 percent ending in November.

-Johnathan Schweitzer

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