Consumer Prices & Durable Goods Orders (Jan.)

The 0.7% m/m decline in consumer prices in January was entirely due to a massive 18.7% m/m fall in gasoline prices. As a result, the annual rate of inflation fell to -0.1%, which is technically a "deflation". But this deflation is nothing to worry about. For a net importer of oil like the US, lower gasoline prices are a good thing.

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