Tags: gasoline | consumer | prices | US

Cheaper Gasoline Cut US Consumer Prices Last Month

Friday, 14 Dec 2012 08:49 AM

A steep fall in gasoline costs pushed down a measure of U.S. consumer prices last month, keeping inflation mild.

The Labor Department says the seasonally adjusted consumer price index dropped 0.3 percent in November, after a 0.1 percent increase the previous month. Gas prices fell 7.4 percent, the steepest drop in nearly four years. That offset a 0.2 percent rise in food prices.

In the past year, consumer prices have risen 1.8 percent, down from October's 12-month increase of 2.2 percent.

Excluding volatile food and gas, prices ticked up 0.1 percent in November and have risen 1.9 percent in the past year. Higher rents, airline fares and new cars pushed up core prices. The cost of clothing and used cars fell.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
Economy
A steep fall in gasoline costs pushed down a measure of U.S. consumer prices last month, keeping inflation mild.
gasoline,consumer,prices,US
121
2012-49-14
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved