This week’s data will show Americans paid less for goods and services in August
Fred Day
Sep. 14, 2008

Consumer prices most likely fell 0.2 percent last month, the first drop since October 2005, according to the market expectations.

Some companies are cutting prices to revive demand as mounting job losses and the collapse in credit and home values cause consumers to retrench. At their meeting this week, Federal Reserve policy makers may signal that the benchmark interest rate will remain at 2 percent in coming months as the threat of inflation recedes and the economy weakens.

According to media reports, ``slowing growth helps put a cap on commodity and energy prices, so price pressures are likely to decelerate,'''' said Maxwell Clarke, chief U.S. economist at IDEAGlobal Inc. in New York. ``It allows the Fed to put fears of inflation on the back burner. Growth will become the greater concern.''''

The Labor Department's report on consumer prices is due Sept. 16. The retreat in energy prices and discounts by automakers and retailers to clear out unwanted stockpiles probably restrained the cost of living last month, economists said.

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