prices drop

One recent development of this whole economic impact debacle is that consumer prices dropped by 1% in October. This is that largest one-month decline on record (which begins in February 1947). I can’t decide if this is a good thing or not.

Consumer prices drop record 1 percent in October
— Houston Chronicle2

Consumer prices plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount.

The Labor Department said Wednesday that consumer prices fell by 1 percent last month, the biggest one-month decline on records that go back to February 1947. The drop was twice as large as the 0.5 percent decline analysts expected.

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Footnotes
2 = article may expire in a few weeks.

Author: Paloma Cruz

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