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U.S. Consumer Prices Fall at Steepest Rate in Almost Six Years

Wall Street Journal (12/17/14) Josh Mitchell; Jonathan House

Consumer prices declined in November at the steepest rate in nearly six years, according to the U.S. Department of Labor, a sign inflation is falling because of declining oil prices. The Consumer Price Index fell a seasonally adjusted 0.3% from October, the largest one-month drop since December 2008, when the economy was in recession. Core prices, which exclude energy and food costs, increased 0.1%. Economists surveyed by the Wall Street Journal had forecast a 0.1% decline in overall prices and a 0.1% gain in core prices.