HMM: Deflation? “The prices of US goods and services, excluding food and fuel, fell last month for the first time since 1982 as aggressive measures to stimulate economic growth failed to inflate the cost of living. The core consumer price index fell 0.1 per cent in January, labour department figures showed , as prices for new cars and housing dropped from the previous month. Prices including food and energy rose a less-than-projected 0.2 per cent.” On the other hand, producer prices jumped more than expected, so what does that mean?