“Declining energy prices lower the cost of living”


Between June 2014 and February 2016, the CPI for urban consumers fell 1.2%, and the EIA found that the biggest component of this decrease was reduced expenditures on energy. The energy component of the C-CPI-U decreased by 35.3%, showing how the greatly decreased cost of oil (down 71% during the study period) influences household expenses. The decrease in energy costs offset rising food, shelter, and miscellaneous prices.


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