Consumer prices fall in historic drop

by Inquirer Online Desk, External or Unknown

Published Jan. 16, 2009, 1:54 p.m. ET

Retail prices in the Philadelphia region fell 3.1 percent from October to December the largest bimonthly decrease since 1940,

» READ MORE: according to

the Bureau of Labor Statistics. Lower prices for gasoline and other transportation costs were largely responsible for the recent decrease.

It is also the first year-to-year decline since 1956.