Summary Box: Consumer prices declined in October

AP News
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Posted: Nov 16, 2011 3:57 PM
Summary Box: Consumer prices declined in October

INFLATION MAY PEAK: Consumers paid less for gas, cars and computers in October, as overall prices dropped for the first time since June. The Consumer Price Index dropped 0.1 percent in October, the Labor Department said Wednesday.

CORE PRICES UP: Excluding volatile food and energy costs, so-called "core" prices rose 0.1 percent. Apartment rentals got more expensive, while new car prices fell.

RELIEF FOR CONSUMERS: Slower inflation, if it can be sustained, will provide relief for consumers. It will also give the Federal Reserve more leeway to take further steps to stimulate the economy without igniting high inflation.