One recent development of this whole economic impact debacle is that consumer prices dropped by 1% in October. This is that largest one-month decline on record (which begins in February 1947). I can’t decide if this is a good thing or not.
Consumer prices drop record 1 percent in October
— Houston Chronicle2
Consumer prices plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount.
The Labor Department said Wednesday that consumer prices fell by 1 percent last month, the biggest one-month decline on records that go back to February 1947. The drop was twice as large as the 0.5 percent decline analysts expected.
[snip]
Footnotes
2 = article may expire in a few weeks.
