CPI Falls 0.3% As Sign Of Deflation

The consumer-price index fell 0.3 percent in November, the most in six years, as a sign of deflation.

"Persistently low inflation allows Fed policy makers, scheduled to end a two-day meeting [Wednesday], to exercise patience in raising the benchmark interest rates that they’ve held near zero since 2008 to spur growth and trim unemployment. Plunging fuel costs also will free up money that households can spend on other goods and services, bolstering the economic expansion," according to Bloomberg.

The Bureau of Labor Statistics noted, "The gasoline index posted its sharpest decline since December 2008 and was the main cause of the decrease in the seasonally adjusted all items index. The indexes for fuel oil and natural gas also declined, and the energy index fell 3.8 percent. The food index rose 0.2 percent with major grocery store food groups mixed."