Low petrol prices drag CPI down in January
Decline largest since 2008; gauge of business investment plans rebounds
Washington
US consumer prices in January posted their biggest drop since 2008 as petrol prices continued to tumble, which could give a cautious Federal Reserve ammunition to keep interest rates low a bit longer.
The Labour Department said its Consumer Price Index fell 0.7 per cent last month, the largest decline since December 2008, after slipping 0.3 per cent in December. It was the third straight month of decline in the index.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons
BOE reports record usage of short-term liquidity repo
Philippines central bank not seeing rate hike despite peso weakness: finmin