The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (AFP) – Falling oil prices pushed U.S. consumer prices into their sharpest monthly drop in six years in December, according to government data released Friday.

The Labor Department said its consumer price index fell 0.4 percent last month, in line with analyst expectations. The CPI declined 0.3 percent in November.

Energy accounted for all of the decline, the steepest monthly fall since December 2008 amid the financial crisis that triggered the Great Recession.

Energy prices slumped 4.7 percent from November, reflecting the rapid dive in global crude prices since June that has more than halved their value.

Year-over-year, energy prices dived 10.6 percent, the steepest slide since 2008.

Gasoline prices plunged 9.4 percent in December, and have shed 22.4 percent in the second half of the year.

Food prices rose 0.3 percent in December, their largest increase since September.

Excluding food and energy prices, the so-called “core” CPI was unchanged.

Inflation has remained well below the Federal Reserve’s 2.0 percent inflation target as the economy slowly recovers from the deep 2008-2009 recession.

The CPI rose 0.8 percent in 2014, the second-weakest annual inflation in 50 years in the United States, after a 0.1 percent rise in 2008. “This is notably lower than the 1.3 percent change for the 12 months ending November,” the department said in its report.

The less-volatile core inflation was up 1.6 percent.

AFP Photo/Justin Sullivan

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Sen. Jeanne Shaheen

Sixteen states vying for the early slots in 2024’s presidential primary calendar pitched their case to the Democratic National Committee onWednesday and Thursday, touting their history, diversity, economies, and electoral competitiveness in the general election.

State party officials, a governor, lt. governors, an attorney general, members of Congress, senior staff and party strategists touted their electorates, industries, heritage, and features that would propel presidential candidates and draw national scrutiny, which pleased the officials on the DNC Rules and Bylaws Committee (RBC). But the panel’s leaders also probed whether Republicans in otherwise promising states would seek to impede a revised Democratic primary calendar.

Keep reading... Show less

Supreme Court

YouTube Screenshot

When Senate Minority Leader Mitch McConnell was confronted over his support for the bipartisan bill addressing elements of gun violence, he defended his Second Amendment record, telling reporters: “I spent my career supporting, defending and expanding” gun rights, and stressing that he had “spent years” confirming conservative judges. McConnell made that statement in full confidence that the Supreme Court he packed with three illegitimate justices would do precisely what it did: ensure that sensible gun regulations anywhere would be eliminated.

The court decided the New York State Rifle & Pistol Association Inc. v. Bruen case Thursday in 6-3 decision written by Justice Clarence Thomas, striking down that state’s 108-year-old provision requiring anyone who wants to get a license to carry a concealed handgun outside the home to show “proper cause” before being granted a permit. The Court’s extremists, Thomas writes, find that New York's strict limits on the concealed carry of firearms in public violates the Second Amendment. It essentially throws out the previous restrictions the Court upheld in its last big gun control case, the 2008 District of Columbia v. Heller.

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}