U.S. Consumer Prices Down First Time in a Year

May 19, 2010
Consumer price index declined 0.1%

Driven by lower oil prices, consumer prices fell for the first time in 13 months. The consumer price index declined 0.1%, the Labor Department said on May 19.

The core CPI, which strips out volatile energy and food items and is closely watched by the central bank in considering interest rates, remained unchanged for the second straight month.

Year-on-year prices increased only 0.9%, the lowest growth rate since January 1966. "At these levels, the Fed will have no incentive to raise rates in the near future," analysts at Briefing.com said.

The data came a day after the government said U.S. producer prices also declined in April, reversing last month's rise and easing any immediate fears of inflation.

The producer price index -- the measure of wholesale inflation, or the prices that businesses pay for their goods -- dropped 0.1% in April after rising 0.7% in March.

Copyright Agence France-Presse, 2010

Popular Sponsored Recommendations

Smarter Savings for Manufacturers - Guide

Sept. 12, 2023
Enhance your service experiences and boost revenue while reducing costs. Learn how one platform can help your business be more agile and productive in today's market.

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

Discover How an Eye Tracking Study Improves Training Procedures

Oct. 29, 2023
Did you know that your training processes can be streamlined by visualizing and analyzing key skills within your employee base? Find out how we use eye tracking to capture advanced...

Why DataOps may be the key to unlocking the full potential of digital transformation

Nov. 3, 2023
Read the 2023 market survey conducted by IndustryWeek

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!