November 19, 2008
CPI Down 1% In October
By Matthew L. Brown
The Consumer Price Index decreased 1.0 percent in October, the largest monthly decrease since the U.S. Department of Labor began publishing the index's changes in 1947.
The October decrease followed very little change in September and August. Compared to a year ago, the October index was up 3.7 percent. The energy index fell 8.6 percent in October following declines of 1.9 percent in September and 3.1 percent in August.
Motor fuel prices continued to decline in October, with the gasoline index falling 14.2 percent. Despite the decline, gasoline prices remain 12.0 percent above their October 2007 level, the department said.
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