Consumer prices post biggest decline since 2008 owing to Covid-19

Consumer prices post biggest decline since 2008 owing to Covid-19

US Consumer prices fell 0.8% in Apr, led by falling gasoline prices, marking the biggest decline since 2008 recession. Economists too had forecasted 0.8% drop. The pace of inflation over the past 12 months slowed to 0.3% from 1.5% in Mar and 2.5% at the beginning of 2020. CPI showed a 20% decline in gas prices while airfares post record drop of 15% as traffic at airports fell sharply over 90%.

Milan
Milan
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