Cheaper fuel leads to drop in CPI
Led by a 5.6% drop in energy prices, U.S. consumer prices fell 0.3% in July, marking only the second drop in 15 years, the Dept. of Labor said today. The only other drop in the Consumer Price Index (CPI) since April 1986 came last April. The drop in energy prices, which is also the largest since April 1986, accounted for much of the good inflation news for July. That came on top of a 0.9% decline