Moody's upgrades Saudi Arabia's credit rating to Aa3 with stable outlook    Riyadh Metro to begin partial operations next Wednesday: Report    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Mahrez leads Al Ahli to victory over Al Fayha in Saudi Pro League    Al Qadsiah hands Al Nassr their first defeat in the Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Downing Street indicates Netanyahu faces arrest if he enters UK    London's Gatwick airport reopens terminal after bomb scare evacuation    Civil Defense warns of thunderstorms across Saudi Arabia until Tuesday    Saudi Arabia, Japan strengthen cultural collaboration with new MoU    Slovak president meets Saudi delegation to bolster trade and investment ties    Saudi defense minister meets with Swedish state secretary    Navigating healthcare's future: Solutions for a sustainable system    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Sixth foreign tourist dies of suspected methanol poisoning in Laos    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Trump picks Pam Bondi as attorney general after Matt Gaetz withdraws    Al-Jasser: Saudi Arabia to expand rail network to over 8,000 km    Sitting too much linked to heart disease –– even if you work out    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



U.S. Consumer Prices Fall Slightly on Lower Gasoline Costs
Published in Saudi Press Agency on 16 - 11 - 2011

AlHijjah 20, 1432, Nov 16, 2011, SPA -- U.S. consumer prices fell in October for the first time in four months as consumers paid less for gasoline, new cars, and computers, though prices outside of energy and food posted a slight increase, the government said Wednesday in a report that shows inflation is easing after prices rose sharply in the spring.
The Labor Department reported that its Consumer Price Index (CPI) fell 0.1 percent last month, led by a sharp 3.1 percent decline in gasoline prices. Food prices rose, but at the slowest pace so far this year.
Excluding volatile energy and food costs, "core" CPI rose 0.1 percent, as higher costs for housing rentals and healthcare more than offset lower costs for new cars, airline fares, and hotels.
In the 12 months ending in October, consumer prices rose 3.5 percent, following a 3.9 percent 12-month rise through September. Core prices rose 2.1 percent in the 12 months through October, up from 2.0 percent in the 12 months through September.
Many economists believe inflation is peaking after climbing steadily this year. Slower inflation could give more momentum to those at the Federal Reserve (Fed) who believe the central bank should do more to try to lower persistently high unemployment.
Rising oil prices sent the average cost of gasoline to nearly $4 a gallon (3.8 liters) in May, while food costs rose sharply because of higher prices for corn and other grains used as animal feed. Higher prices for cotton drove clothing costs up for four consecutive months, and automobile costs rose after the March earthquake in Japan disrupted supply chains and slowed production.
Fed policymakers are forecasting lower inflation next year, which would give the central bank more latitude to keep interest rates at historic lows, and potentially take other steps to stimulate the economy. The Fed said two weeks ago it expects inflation to drop from about 2.8 percent this year to about 1.7 percent in 2012.


Clic here to read the story from its source.