Headline CPI Falls 0.4% in December, Closing out 2014 at a Modest 1.6% YoY

It is no surprise that sharp declines in oil prices are having a major impact on the consumer price index, with the energy price index in decline throughout the past six months. In December, energy prices dropped 4.7% mostly due to the commodities side as gasoline prices fell 9.4% for the month. Headline CPI declined for the second consecutive month (the first back-to-back declines since early 2013), with the 0.4% drop marking the largest since the midst of the crisis

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