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Current DateTime: 11:50:12 24 Nov 2009
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Current DateTime: 11:50:12 24 Nov 2009
LinksList Documentid: 30111251
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Dec.16
9:00 AM ET
Tuesday, 16 Dec 2008
CPI Details: Where the costs are falling (and rising)

The Consumer Price Index had its biggest one month drop ever.  The CPI numbers came in this morning down 1.7% for the month, exceeding expectations.  The core rate, excluding energy and food, remained unchanged.  On a year over year basis, inflation is now running just over 1.0%. 

Here is a breakdown of the inflation benchmark to show you where costs are rising and falling most.  For November, energy prices were down a record 17.0% down and are now down  13.4% from one year ago. 

  • CPI:  Down -1.68%
    • Ex Food & Energy: Up +.02%
    • Food: Up +.16%
    • Energy: Down -16.98%
  • Housing: Down -.10%
  • Apparel: Up +.27%
  • Transportation: Down -9.75%
  • Medical Care: Up +.23%
  • Recreation: Up +.01%
  • Education & Communication: Up +.22%
  • Other Goods & Svcs: Down -.03%

The unchanged core should give the Fed confidence that deflation is not the critical issue today and futures are pointing up.  Some of the Dow stocks up over 1% in the pre-market include Boeing [BA  Loading...      ()   ], 3M [MMM  Loading...      ()   ], Caterpillar [CAT  Loading...      ()   ], General Electric [GE  Loading...      ()   ], General Motors [GM  Loading...      ()   ], JP Morgan Chase [JPM  Loading...      ()   ], and Merck [MRK  Loading...      ()   ].

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