CPI Declines in January 2015

Last month consumer prices posted their largest drop since 2008 as gas prices continued to fall. Economists polled by Reuters had forecast the CPI falling 0.6 percent last month and slipping 0.1 percent from a year ago. This might be enough to keep the Fed from raising rates anytime soon. The Labor Department said the CPI fell 0.7 percent last month, the largest decline since December 2008, after falling 0.3 percent in December. It was the third straight month of decline in the index.  Over the last year the CPI increased fell 0.1 percent, the first decline since October 2009 and a sharp drop from November’s 0.8 percent rise.