You can put the tinfoil hats away now
Published Thu, Nov 16 2006 7:26 PM
Technorati Tags: News and Politics, Democrats
Do you remember the speculation in early October that falling gas prices might be the responsibility of Karl Rove in an "October Surprise"? Well, if they were, it obviously didn't work...
WASHINGTON (AP) — Consumer prices, helped by another huge decline in gasoline pump prices, fell for a second straight month in October, providing more relief to Americans battered earlier in the year by soaring energy costs.
The Labor Department reported Thursday that consumer prices dropped 0.5% last month, matching the September decline. It was the first back-to-back drops in the consumer price index since late last year and provided more evidence that inflation pressures are beginning to ease.
Core inflation, which excludes volatile energy and food prices, was also well-behaved, rising just 0.1%, the smallest gain in 13 months.
The slowdown in inflation provided a boost to Americans' weekly incomes, which were up 3.3% in October compared with a year ago, after discounting inflation. That was the biggest 12-month increase in eight years and followed a period of extremely sluggish wage growth.
Read more at USATODAY.com.
I guess now that the elections are over and the Democrats are safely in control of the House and the Senate it's OK to report good economic news as good economic news instead of a Rovian conspiracy to keep Democrats out of power.
Update: Iowa Voice notes that ABC has chimed in, giving the Democrats credit for the good economy. They haven't even begun their new session and already they're taking credit for the past few months when they weren't in power. Give me a break, and pass the tinfoil.
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