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More downward pressure

Posted by Chris Farrell on Wednesday, November 19, 2008

Here's the headline from the Washington post:

Consumer Prices Fall by Record 1% in October

Consumer prices plunged by the largest amount in the past 61 years last month as gasoline pump prices dropped by a record amount.

Normally, we would welcome easing inflation numbers. But giving all the deflationary forces unleashed in the global economy, this is a worrisome number.

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