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The lower reading on core prices indicates inflation is not breaking out.
But some of us argued that this was a temporary blip, driven by the indirect effect of commodity prices even on core prices.
"The severe contraction in activity has created a huge margin of spare capacity in the economy, which will exert strong downward pressure on core prices going forward," he said.
"Global oil prices have bounced around and the appreciating US dollar will continue to put downward pressure on core prices," he said.
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On core pricing Amazon on average was 6% below Wal-Mart and 13% below Target and the specialty retailers.
They earn less revenue, meaning they can't be as aggressive on core pricing and on advertising.
On one of its measures of core prices, which excludes energy and seasonal foods, inflation continued to creep up, reaching 1% in July.Israel's economy grew at an annualised rate of 4.7% in the second quarter, thanks to strong exports and consumer spending.
Last year's spike in fuel prices had little effect on core consumer prices, but things are different now.
When excluding food and energy, the rise in core consumer prices in October was flat for the third consecutive month, and on an annual basis, core prices were up 0.6 percent, the smallest rise since the government started keeping the records in 1957.
In 2008, core prices are on pace to rise by 5.2%, and headline inflation is up at an 8.5% clip.The housing sector has taken a toll on home improvement retailer Home Depot.
On Friday, Japan will report on core consumer prices for June.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com