The good news: the cost of living is decreasing, or at least isn’t increasing. The bad news: Colorado is the first state to actually decrease its minimum wage, from $7.28 to $7.24, and Social Security recipients will not be receiving their routine cost-of-living adjustment, or COLA for 2010.
Even though gas prices keep rising, businesses haven’t been sticking customers with price hikes. In fact, the bear economy has staggered the Consumer Price Index once again, with the index rising only 0.1 percent in May. The miniscule, less-than-expected increase, following a flat April, means that prices were 1.3 percent lower in May than they were a year ago — the largest year-over-year drop since 1950.
Ok, so we’re running out of ways to say that consumer prices have fallen — again. This time its the steepest drop since 1955.
The Consumer Price Index, which measures how much Americans spend on consumer goods like groceries, clothing, entertainment and other goods and services, fell by 1 percent in October compared with prices in the previous month, says the NYT. “It was the steepest single-month drop in the 61-year history of the pricing survey.”
The New York Times made a pretty cool graph out of the Consumer Price Index, which tracks changes in prices for many consumer goods over the past year. Turns out, gas prices went up.
With feverish paws, we unsheathed the latest Consumer Price Index report (C.P.I.), released this morning, from its brown package. Flipping quickly to the middle our eyes roamed over Ms. January C.P.I.’s rising crests of .8%.