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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: regli who wrote (42818)	12/15/2005 11:23:36 AM
From: mishedlo	Read Replies (1) of 116555

Consumer prices plunge 0.6% in Nov. Core rate up 0.2% on hotels, hospitals, food marketwatch.com WASHINGTON (MarketWatch) - U.S. consumer prices fell at the fastest rate since 1949 in November, plunging 0.6% as energy prices retreated, the Labor Department said Thursday. Energy prices fell a record 8% in November, reversing a spectacular 12% gain in September. Still, energy prices are up 18.3% in the past 12 months. Excluding volatile food and energy prices, the core consumer price index rose 0.2% in November. The 0.6% drop in the CPI was larger than the 0.4% expected by economists surveyed by MarketWatch. The 0.2% rise in the core rate was as expected. See Economic Calendar. The CPI has risen 3.5% in the past year, down from 4.3% in October. Core inflation is up 2.1% in the past year, the same as in October. The CPI and core CPI both rose 0.2% in October. Read the full report. The CPI indicates a slight acceleration in core prices over the past few months, but no major passthrough from the spike in energy prices. Core prices have risen at a 2.4% annual rate in the past three months. The report should keep the Federal Reserve on track to raise interest rates by a quarter percentage point in January and likely March. And perhaps beyond.

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