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To: Frank E W who wrote (102929)	2/19/1999 9:13:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

<--OT-->What inflation? where? Frank: No,tell me all about it if it makes you feel better.<g> ======================================== U.S. January Consumer Prices Rise 0.1%; Core Rate Rises 0.1% Washington, Feb. 19 (Bloomberg) -- U.S. consumer prices barely budged in January as higher food costs were almost offset by a drop in home fuel bills and the lowest clothing prices in a decade. The government's consumer price index -- the broadest gauge of costs for good and services -- rose 0.1 percent last month, the Labor Department said. The CPI core rate, which excludes food and energy costs, increased 0.1 percent in January. In December, the CPI rose 0.1 percent and the core rate of consumer prices rose 0.3 percent. The statistics ''suggest that inflationary pressure at the retail level remains non-threatening,'' said Kim Rupert, a senior economist at Standard & Poor's MMS in Belmont, California, before the report. Food prices, which account for almost a fifth of the index, rose 0.5 percent in January after a 0.1 percent rise in December. Energy prices, which account for almost a tenth of the index, fell 0.2 percent in January after dropping 1.1 percent in December. Clothing prices fell 1.1 percent in December, the biggest decline since February 1989, the Labor Department said. Retailers' apparel sales picked up in late December and in January with chillier temperatures and as prices were cut to clear out winter inventory. Low prices have hurt some retailers like J.C. Penney Co., whose per-share earnings are forecast to drop about 46 percent. The No. 2 department-store operator had to slash prices on its clothing to compete with marked-down designer goods at rivals, as the early warm weather curbed demand for sweaters, coats and other items. ============================= Trouble ahead in Germany & France? I heard this morning that the German's didn't very well in Q4 as the economy shrank .4% instead of the projected 0% growth,but still on the positive side for the year. Hope they don't make this a habit in 99,that won't be good. Also they tell me Industrial Production in France went down +1.6% in Q4 . Let's hope these two 'guys' are not 'trying' to lead Europe into a recession.