U.S. consumer prices post biggest drop in six years

Reuters reports:

U.S. consumer prices recorded their biggest decline in six years in December and underlying inflation pressures were benign, which could bolster the case for delaying the first interest rate increase from the Federal Reserve.

The Labor Department said on Friday its Consumer Price Index fell 0.4 percent last month, the largest drop since December 2008, after sliding 0.3 percent in November. In the 12 months through December, CPI increased 0.8 percent.

It was the weakest year-on-year reading since October 2009, and followed a 1.3 percent rise in November. Last month's readings were in line with expectations.

As long as there's a Federal Reserve pumping in money: this will not last very any length of time.