CPI Factoid of the Day: Natural Gas Prices -2.2%
Interesting factoid from Table A above (click to enlarge) in today's CPI report:
Compared to one year ago, every category of goods and services has increased except for one deflationary item: "Utility (piped) gas service," which has decreased by 2.2% from October 2011. As I reported recently, natural gas futures prices for the month of November are the lowest in ten years, so the decline in natural gas prices for consumers is likely to continue through the winter.
Welcome to America's shale gas revolution.