US Labor Dept Says There's No Evidence of Inflation

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US Labor Dept Says No Evidence of Inflation

The real proof won't be until Friday when the Consumer Price Index is released, but indications from wholesale prices are that the Federal Reserve's interest rate tightening moves are paying off.

The Labor Department says the Producer Price Index was down two-tenths of a percent last month, with falling prices for gasoline and children's clothing outweighing increases in the costs of cigarettes and home heating oil.

That's a surprise to economists, who'd expected a two-tenths of a percent increase.

http://www2.kyw1060.com/news_story_detail.cfm?newsitemid=9005

-- Carl Jenkins (Somewherepress@aol.com), September 15, 2000


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