Wikinvest Wire

Consumer prices plunge by one percent

Wednesday, November 19, 2008

The Labor Department reported the Consumer Price Index dropped a full one percent in October, the biggest decline in 61 years, driven largely by tumbling energy prices.
IMAGECore consumer prices, excluding food and energy, declined 0.1 percent, the first decline in over a quarter century. Unfortunately, food prices did not go down.
IMAGEContrary to some news reports, price declines do not appear to be widespread - automobile, computer equipment, and apparel prices fell in October, but that's nothing new. Food prices and medical costs continued to rise - that's nothing new either.


Anonymous said...

Bailout 2008, a poem by David Jeffrey

Like a bloodied warrior,
laying broken and torn.

Like a dying soldier, hopeless and forlorn.

But the blood, it be green,
the color of money.

And the soldier is an economy,
and it is anything but funny.

Broken are it's people and shattered are their dreams.

Thanks to the ultra rich and their full proof schemes.

It is a tragedy with more pain to come.

Finance will be Hell, and their wills will be done.

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