Consumer prices fell more than expected in October, while the rate of new home construction fell its slowest level on record.
The consumer price index fell 1%. Excluding food and energy, prices declined 0.1%. Economists expected a 0.9% drop in the headline CPI and a 0.1% increase in the core.
Year-on-year, the overall CPI eased to up 3.7 percent in October from 4.9 percent in September.
Today’s report not only shows inflation slowing from lower energy costs but also from weak import prices and declining consumer demand.
Therefore, US going to experience deflation after 75 years.
The consumer price index fell 1%. Excluding food and energy, prices declined 0.1%. Economists expected a 0.9% drop in the headline CPI and a 0.1% increase in the core.
Year-on-year, the overall CPI eased to up 3.7 percent in October from 4.9 percent in September.
Today’s report not only shows inflation slowing from lower energy costs but also from weak import prices and declining consumer demand.
Therefore, US going to experience deflation after 75 years.