Consumer prices fall for first time since 2006

Consumer prices in August posted the first monthly decline in nearly two years as Americans finally get a break from surging energy prices.The Labor Department reported today that consumer prices edged down 0.1 percent last month, a significant improvement from a 1.1 percent price spike in June and a 0.8 percent rise in July.

The cost of gasoline and other fuels have plunged, reflecting big drops in crude oil prices.

[reminder: energy costs {especially mobile energy} effects the cost of everything. Imagine the effect on inflation if we halved the cost of diesel and gas through production...]

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