one minutes silence for the bears, page-11

re: bullish usd index CONSUMER PRICE INDEX: NOVEMBER 2006

The Consumer Price Index for All Urban Consumers (CPI-U) decreased
0.1 percent in November, before seasonal adjustment, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. The November
level of 201.5 (1982-84=100) was 2.0 percent higher than in November 2005.

The Consumer Price Index for Urban Wage Earners and Clerical Workers
(CPI-W) also decreased 0.1 percent in November, prior to seasonal
adjustment. The November level of 196.8 (1982-84=100) was 1.8 percent
higher than in November 2005.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U)
decreased 0.2 percent in November on a not seasonally adjusted basis. The
November level of 117.0 (December 1999=100) was 1.9 percent higher than in
November 2005. Please note that the indexes for the post-2004 period are
subject to revision.

CPI for All Urban Consumers (CPI-U)

On a seasonally adjusted basis, the CPI-U was unchanged in November,
following declines of 0.5 percent in each of the preceding two months.
Energy prices, which declined sharply in September and October, fell 0.2
percent in November. Within energy, the index for petroleum-based energy
decreased 1.5 percent while the index for energy services increased 1.2
percent. The food index decreased 0.1 percent in November. The index for
all items less food and energy was virtually unchanged in November,
following an increase of (cont.)

0.1 percent in October. A 0.4 percent increase in shelter costs was partially
offset by declines in the indexes for apparel and for the non-energy portion of
the transportation index, particularly the indexes for new and used vehicles and
for airline fares.

During the first 11 months of 2006, the CPI-U rose at a 2.2 percent
seasonally adjusted annual rate (SAAR). This compares with an increase of
3.4 percent for all of 2005. The index for energy, which increased 17.1
percent in 2005, decreased at a 1.6 percent SAAR in the first 11 months of
2006. Petroleum-based energy costs declined at a 1.7 percent rate and
charges for energy services fell at a 1.5 percent rate. The food index
has increased at a 2.4 percent rate thus far in 2006, following a 2.3
percent rise for all of 2005. Excluding food and energy, the CPI-U
advanced at a 2.6 percent SAAR in the first 11 months of 2006 after
increasing 2.2 percent in 2005.

The food and beverages index decreased 0.1 percent in November. The
index for food at home declined 0.3 percent, reflecting a 2.2 percent
decrease in the index for fruits and vegetables. The indexes for fresh
vegetables and for fresh fruits declined 4.7 and 1.4 percent,
respectively, while the index for processed fruits and vegetables rose 1.5
percent. (Prior to seasonal adjustment, prices for processed fruits and
vegetables declined 0.1 percent.) The indexes for dairy products and for
other food at home also contributed to the November decline in grocery
store food prices, decreasing 0.6 and 0.3 percent, respectively.
Partially offsetting these declines were increases in the indexes for
nonalcoholic beverages, for cereal and bakery products, and for meats,
poultry, fish, and eggs. The index for nonalcoholic beverages increased
0.9 percent and the index for cereal and bakery products rose 0.4 percent.
The index for meats, poultry, fish, and eggs advanced 0.2 percent.
Increases in the indexes for eggs, for beef, and for other meats--up 4.0,
0.7, and 1.8 percent, respectively--more than offset price declines for
pork, for poultry, and for fish and seafood. The other two components of
the food and beverages index--food away from home and alcoholic beverages-
-increased 0.2 and declined 0.1 percent, respectively.

The index for housing, which was virtually unchanged in October, rose
0.4 percent in November. The index for shelter rose 0.4 percent,
following increases of 0.3 percent in each of the preceding two months.
Within shelter, the indexes for rent, for owners' equivalent rent, and for
lodging away from home rose 0.4, 0.3, and 1.0 percent, respectively.
(Prior to seasonal adjustment, the index for lodging away from home
decreased 3.7 percent.) The index for fuels and utilities, which declined
2.2 percent in October, increased 1.0 percent in November. The index for
natural gas rose 4.7 percent, following a decrease of 7.7 percent in
October, but was 19.8 percent lower than a year ago. The index for fuel
oil increased 0.3 percent, but was 3.0 percent lower than in November
2005. (Prior to seasonal adjustment, fuel oil prices declined 0.8
percent.) The index for electricity decreased 0.2 percent for the second
consecutive month, but charges for electricity are 6.5 percent higher than
a year earlier. (Prior to seasonal adjustment, charges for electricity
declined 2.9 percent.) The index for household furnishings and
operations declined 0.2 percent.

The transportation index declined for the third consecutive month--
down 0.9 percent in November--reflecting price decreases for gasoline, for
new and used motor vehicles, and for airline fares. The index for
gasoline, which had declined sharply in both September and October, fell
1.6 percent in November. The index for new vehicles declined 0.7 percent
in November. (As of October, about 66 percent of the new vehicle sample
consisted of 2007 models. The 2007 models will continue to be phased in,
with appropriate adjustments for quality change, over the next several
months as they replace old models at dealerships. For a report on quality
changes for the 2007 vehicles represented in the Producer Price Index
sample, see news release USDL-06-1973, dated November 14, 2006.) New
vehicle prices are 0.9 percent lower than in November 2005. The index for
used cars and trucks decreased 1.4 percent in November and was 1.5 percent
lower than in November 2005. The index for public transportation declined
1.9 percent, reflecting a 4.8 percent drop in airline fares. Airline
fares have declined 10.0 percent in the last four months after advancing
12.6 percent in the first seven months of the year.

The index for apparel declined for the second consecutive month, down
0.3 percent in November. (Prior to seasonal adjustment, apparel prices
fell 1.3 percent, reflecting seasonal discounting.)
Medical care costs rose 0.2 percent in November and were 3.7 percent
higher than a year ago. The index for medical care commodities--
prescription drugs, nonprescription drugs, and medical supplies--declined
0.4 percent. The index for medical care services rose 0.3 percent in
November. The indexes for professional services and for hospital and
related services increased 0.4 and 0.1 percent, respectively.

The index for recreation increased 0.1 percent in November. The
index for admissions to movies, theaters, concerts, and sporting events
increased 0.8 percent, more than offsetting a 0.3 percent decline in the
index for video and audio products and services.

The index for education and communication declined 0.2 percent in
November. Educational costs rose 0.5 percent, while the index for
communication declined 0.8 percent. Within the latter group, the index
for telephone services declined 0.3 percent, largely reflecting a 0.7
percent decrease in charges for long distance land-line telephone
services. The index for information technology, hardware, and services
declined 4.2 percent, reflecting decreases in the indexes for personal
computers and peripheral equipment, for computer software and accessories,
and for charges for internet services and electronic information
providers. The latter component has declined in each of the last five
months and is 13.9 percent lower than in November 2005.

The index for other goods and services rose 0.1 percent in November. A
0.3 percent decline in the index for tobacco and smoking products was more
than offset by a 0.2 percent increase in the index for personal care.