WASHINGTON (AP) -- Consumer prices in August fell for the first time in 10 months as another big drop in energy costs offset higher food prices.þþThe Labor Department reported Wednesday that its closely watched Consumer Price Index dipped 0.1 percent last month, slightly better than the flat reading that had been expected. It was the first decline in consumer prices since a 0.4 percent fall in October 2006.þþThe new report came a day after the Federal Reserve cut a key interest rate by a half point, a bigger decrease than had been expected, in an effort to ensure that recent financial market turbulence didn't push the country into a recession.þþ
Source: NY Times
