Record Drop in Consumer Prices
Consumer prices dropped 1% in October, the biggest one-month decline since 1947 according to Bob Willis of Bloomberg.com. Perhaps the most relateable set of statistics issued by the Bureau of Labor Statistics, the CPI (Consumer Price Indexes) is basically a measure of our cost of living. In other words, thanks to cheaper gas and lower prices at the stores, stuff was cheaper in October than it was in September.
Official definition: “The Consumer Price Indexes (CPI) program produces monthly data on changes in the prices paid by urban consumers for a representative basket of goods and services.”
Source: BLS.gov
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment