Inflation Is In Check; Consumer Prices Fell 0.3 Percent In November | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Inflation Is In Check; Consumer Prices Fell 0.3 Percent In November

Play associated audio

A sharp drop in the cost of a gallon of gasoline helped pull consumer prices down 0.3 percent in November, the Bureau of Labor Statistics reports.

According to BLS, gas prices plunged 7.4 percent last month.

Excluding the food and energy sectors, the so-called core rate of inflation rose just 0.1 percent.

Reuters notes that the overall decline points to "muted inflation pressures that should allow the Federal Reserve to stay on its ultra-easy monetary policy path as it nurses the economy back to health."

The drop followed a scant 0.1 percent increase in October. The inflation rate, which spiked in August and September when gas prices rose sharply, now appears to be back in check. Stiff competition for consumers' dollars — especially the price cuts many retailers are advertising — is also helping to hold inflation down.

For the year ended Nov. 30, the consumer price index is up 1.8 percent.

Related news: "Inflation Index Fix Could Cut Federal Deficit."

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

NPR

It's 'Etsy,' Kenyan Style: Making Art Out Of Flip-Flops And Bottle Tops

This summer, Kenya artists came to Washington, D.C., for the Smithsonian Folklife Festival. Some of them make their living by turning trash into sculptures, jewelry and igloos.
NPR

Economists Say Inflation Is Tame; Consumers Aren't Buying It

On paper, inflation has been low this year. But consumers buying food or fuel may disagree. Prices for beef, eggs, fresh fruit and many other foods are much higher than overall inflation.
NPR

Avoiding The Border: Is This Obama's Hurricane Katrina?

The president says he's working on addressing the surge of unauthorized border crossings into the U.S. But is his decision to not visit the border an epic mistake? The Barbershop guys weigh in.
NPR

Avoiding The Border: Is This Obama's Hurricane Katrina?

The president says he's working on addressing the surge of unauthorized border crossings into the U.S. But is his decision to not visit the border an epic mistake? The Barbershop guys weigh in.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.