Most Active Stories
- Le Show For The Week Of Mar. 15, 2015
- Peter Sagal Says New Orleans Is The Best — And He'll Show Us A Great Time Thursday Night
- The Irish Have Been Part Of New Orleans From The Beginning
- Argo The Police Dog Forces Carjacking Suspect Hiding Inside Cemetery Tomb To Surrender
- Episode 609: The Curse Of The Black Lotus
Wed June 13, 2012
Sharp Drop In Gas Prices Puts Brakes On Inflation
Wholesale prices fell 1 percent in May from April thanks to an 8.9 percent plunge in the price of gasoline, the Bureau of Labor Statistics reports. The overall decrease is the largest in one month since July 2009.
Excluding the energy and sectors, prices at the wholesale level ticked up 0.2 percent.
Also this morning, the Census Bureau says that retail sales edged down 0.2 percent in May from April. There's a link between that figure and the drop in gasoline prices: The value of sales at gas stations dropped 2.2 percent in May, largely because of the steep drop in gas prices.
As Bloomberg News notes, "spending increased 0.9 percent at clothing stores and 0.8 percent at electronics chains."