Consumer prices in the United States fell by 1.7 percent in November, the largest one-month decline dating to February 1947, as energy costs dropped sharply, the Labor Department reported Tuesday.
The November
drop in consumer prices surpassed the previous record decrease of one percent set in October and was larger than the 1.2 percent drop that analysts had been expecting.
The report showed that energy prices plunged 17 percent last month, nearly double the 8.6 percent decline in October. Both declines represented
record drops.
The 17-percent drop was the fourth straight monthly decline in energy costs. The back-to-back retreat came after energy costs recorded big advances in May, June and July.
Gasoline costs fell by a record 29.5 percent in November, while home heating oil costs were down 14.6 percent and
natural gas prices were off 5.2 percent. source: PNA
Linkback:
https://tubagbohol.mikeligalig.com/index.php?topic=16773.0