Consumers Finally Get a Break on Gas Prices
Wednesday, July 18, 2007 9:35 a.m. EDT
WASHINGTON -- Food costs went up again but consumers finally got a break at the gas pumps in June, helping to lower inflation to the smallest increase in five months.
The Labor Department reported Wednesday that the Consumer Price Index edged up a virtually minuscule 0.2 percent in June following a 0.7 percent surge in May, which had been the biggest jump in 20 months.
The price moderation reflected a 1.1 percent decline in gasoline prices, which pushed total energy costs down by 0.5 percent, offsetting a 0.5 percent rise in food costs.
http://www.newsmax.com/scripts/money/printer.pl?s=pf&page=http://www.newsmax.com/money/archives/st/2007/7/18/93715.cfm?s=mo
When is “Good News” bad news? Every time consumers get a break on gas prices.
That sound you hear is not only change in the pocket of the consumer, but the sounds of a warming planet, and the sounds of another exploding bomb purchased with petrodollars. The decrease in gas prices means another consumer decided to purchase a gas-guzzling SUV rather than a fuel-efficient compact, another home buyer decided to move to the distant suburbs, a developer decided to close the deal on a low-density sprawl development rather than an in-fill development in the city, someone drove their car to work rather than took the bus, and an alternative fuel development became no longer viable. rod
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