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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
Inflation Plunges by 1.7 Percent in November

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

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