January 16, 2009
Consumer prices dropped in December
The Consumer Price Index dropped by 0.7 percent in December, falling for the fifth consecutive month, the U.S. Department of Labor said Tuesday.
Prices fell 1.7 percent nationally in November.
In December, core inflation, taking out the influences of food and energy costs, was virtually unchanged.
Inflation for the year came in at minus 0.1 percent, but core inflation for the year gained 1.7 percent, the government said.
On balance, for wage earners, December was a good month. While prices fell 0.7 percent, wages increased 0.9 percent during the month, the report said.