Is Life Getting Less Expensive for You?
A new report from the government shows that consumer prices declined last month. Don’t feel bad if it slipped your notice when you were shopping at the store.
In fact, most consumer prices keep rising (as usual), it’s just that the price of gas dropped a bit, which pulled down the government’s Consumer Price Index.
Therefore, the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.2% in February on a seasonally adjusted basis.
Cheaper energy prices have done a lot to tame inflation over the past year: Over the last 12 months, the all items index increased just 1% before seasonal adjustment.
There’s no denying that we feel the difference between $4/gallon and $2/gallon at the pump. Even people who don’t drive experience a benefit from cheaper energy prices, since energy costs are a big factor in the price of all sorts of things.
And yet, the cost of living keeps going up and up. Funny how that works.
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