WASHINGTON Tumbling oil prices drove prices at the retail leveldown 0.4 percent in March for the second month in a row, givingconsumers the biggest two-month price decline in 36 years, the LaborDepartment reported yesterday.
Gasoline, the major factor in the March decline in the ConsumerPrice Index, fell a record 12 percent last month.
It was the first time prices have fallen for two consecutivemonths since 1965 and was the sharpest two-month decline since pricesfell 0.4 percent in both December, 1949, and January, 1950.
White House spokesman Larry Speakes hailed the "continuing goodeconomic news," saying, "There will be more money in Americans'pockets …

No comments:
Post a Comment