Consumer inflation posts largest drop in 6 years

Washington

US consumer prices recorded their biggest drop in nearly six years in November as petrol prices tumbled, but this probably will do little to change views that the Federal Reserve will start raising interest rates in mid-2015.

The Labor Department said on Wednesday its Consumer Price Index (CPI) fell 0.3 per cent last month, the largest decline since December 2008, after being flat in October.

In the 12 months to November, the CPI in…