I went out to a large discount-type store for groceries and miscellaneous Christmas items last night after work. (In general, I tend to avoid those types of stores. It can be convenient to be able to get everything in one fell swoop, but I always feel like I need to strap on my running shoes to get from one end to the other.) What I was thinking to venture out there-on a Monday, on the 15th of the Month, during Christmas season-is truly beyond me.
It was torture. The huge store was crowded everywhere I turned, and the masses were not interested in Christmas cheer. The employees were clearly overburdened, and trip took at least twice as long as it should have since I had to wait for virtually everything. What was nice was the fact that the prices were low, lower than I even expected at that type of store.
According to a recent report from the U.S. Department of Labor, consumer prices fell sharply in November. In the short term, low prices are good news for holiday shoppers, especially for the 41 million Americans who haven’t even started their quest for the perfect gifts. Deflation is becoming a real concern, however, and the Federal Reserve is likely to react by further cutting the federal funds rate.