U.S. Economy: Cost of Living Decreases by Most in Six Decades

icon gravatar.comwww.bloomberg.com/apps/news?pid=20601087&sid=aCW4ePZCxlIg
sent by regroce since 237 days 8 hours 9 minutes, published about 236 days 22 hours 12 minutes
"The cost of living in the U.S. fell over the last 12 months by the most in six decades, easing concern that government efforts to revive the economy will lead to an immediate outbreak of inflation. The consumer price index dropped 1.3 percent in the year ended in May, the most since 1950, the Labor Department said today in Washington. Prices increased just 0.1 percent last month, less than anticipated, after no change in April."
tags: cost of living, consumer spending
2 commentscategory: Business and Economy karma: 155

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  1. #1    I look at the prices at the supermarket and I think this is bull. My rent hasn't gone down. My electricity, heat, phone and health care haven't gone down and my auto mechanic isn't charging less. OK, gas isn't $4/gallon. What else?
    written by smchris since 236 days 20 hours 45 minutessmchris
  2. #2    Do you actually think anything current (like rent) will go DOWN?????

    Pleeeeeze, they know you can pay a certian amount so you will always pay at least that amount. Get real.

    Bottom line, people are holding onto their money like it is the last amount of air they will ever breathe, so naturally inflation is kept at bay.
    written by kjlovell since 236 days 16 hours 39 minuteskjlovell
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