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Inflation Plunges by 1.7 Percent in NovemberInflation Plunges by 1.7 Percent in November
December 16, 2008
1 Min Read
Consumer prices, an inflation barometer, fell last month by 1.7 percent, the largest drop in 61 years. The overall slide in prices reflects a big drop in energy costs in recent months, according to a Labor Department report.
The drop puts pressure on the Federal Reserve to act. As it wraps up a two-day meeting today, the central bank is expected to cut the federal funds rate, which is arleady at a low of 1 percent, by another half-point to prevent the recession from worsening.
Source: Yahoo News, Inflation Drops Bigger-Than-Expected 1.7 Percent
