Big fall in energy pushes consumer prices down (AP)

WASHINGTON - Consumer prices in August posted the first monthly decline in nearly two years as Americans finally get a break from surging energy prices.

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The Labor Department reported Tuesday that consumer prices edged down 0.1 percent last month, a significant improvement from a 1.1 percent price spike in June and a 0.8 percent rise in July. The cost of gasoline and other fuels have plunged, reflecting big drops in crude oil prices . The decline, which was in line with expectations, may give the Federal Reserve the room it needs to cut interest rates if Fed officials feel a rate reduction could help stabilize turbulent financial markets .

Full Story: Big fall in energy pushes consumer prices down (AP)

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