U.S. Inflation Falls Slightly, Led By Gas Prices
Prices fell by 0.1% in October, as reported by the U.S. Bureau of Labor Statistics. The Consumer Price Index or CPI also fell by 3.5% over the last year.
Declines in energy costs were significant and offset small increases in the prices of food and other items.
Prices for food rose in October, but this was the smallest increase of the year as prices for fruits and vegetables fell sharply.
Excluding food and energy prices increased 0.1% in October, the same as last month and the smallest increase of the year.
Inflation is not yet a threat, despite the quantitative easing of the Fed. The major reasons are the continued weakness in Europe, leaving the U.S. as a relatively strong safe haven; and deflationary pressures worldwide.
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