U.S. consumer prices post biggest decrease since 2008

The Labor Department said on Tuesday its consumer price index tumbled 0.8% last month after falling 0.4% in March. That was the largest decline since December 2008 when the economy was in the throes of a recession, and marked the second straight monthly decrease in the CPI.Economists polled by Reuters had forecast the CPI falling 0.8% in April and rising 0.4% year-on-year.

The Labor Department said in-store data collection has been suspended since March 16, because of risks of exposure to COVID-19, the respiratory illness caused by the coronavirus. The department added that data collection last month was also impacted “by the temporary closing or limited operations of certain types of establishments,” leading to “an increase in the number of prices being considered temporarily unavailable and imputed.

Excluding the volatile food and energy components, the CPI dropped 0.4% in April, the largest decline since the series started in 1957. The so-called core CPI dipped 0.1% in March, which was the first drop since January 2010.The Federal Reserve tracks the core personal consumption expenditures price index for its 2% inflation target. The core PCE price index increased 1.7% year-on-year in March after rising 1.8% in February.

Source: Holiday News (holidaynews.net)

You sound surprised. Surely you didn't need an Imperial College prediction to work that out - did you?

Like no other nation isn't affected. Sigh 😔

Bullish better than 1929 buy stonks

123456789

Who would’ve guessed? Me.

You know... Supply and demand... When demand is low, you raise the price to make up for losses... That's how it works, right?

everything looking rosy in the USA garden then...... FUBAR

All this 'winning' is wearing me down...

trump’s America. so much Winning MAGA 82000AndClimbing

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK house prices to fall on coronavirus, but analysts don't expect a 2008-like collapseU.K. house prices will fall 'modestly' in the coming months, but are unlikely to drop as dramatically as in 2008, two analysts told CNBC. - Very funny indeed! House prices were falling and house repossessions have increased before the lockdown. House prices will fall between 20 and 30%. London house prices should fall about 50% to be about right.
Source: CNBC - 🏆 12. / 72 Read more »

Watch Nastia Liukin Perform a Snippet of Her 2008 Olympics Beam RoutineNastia Liukin has us feeling nostalgic about the 2008 Beijing Olympics with this video of her practicing her balance beam routine! Better believe it!!
Source: POPSUGAR Fitness - 🏆 401. / 53 Read more »

Detroit's automakers have enough cash to last the year without a bailout after learning the 'hard way' in the Great RecessionNo one could have prepared for Covid-19, but Detroit's carmakers are weathering the storm without talk of bankruptcies or need of a bailout.
Source: CNBC - 🏆 12. / 72 Read more »

Five Hires To Make ESPN’s Monday Night Football Great AgainIf ESPN wants to bring in a quality booth for Monday Night Football, something it's failed to do of late, these five names would instantly accomplish that. Nice Hmmmmmmm LRiddickESPN is the man for the job
Source: Forbes - 🏆 394. / 53 Read more »

Pandemic stirs BOJ debate of Great Depression-like downturnSome Japanese central bankers called for even bolder steps than those announced at last month's policy decision, a summary of bank views showed on Monday, to prevent the coronavirus triggering an economic slump as bad as the Great Depression. The wealthy people in Japan are over the age of 65, so the more they spend, it is necessary to induce tax preferential policies to follow. The Great Depression happened in 2009.. this is the BubonicPlague
Source: Reuters - 🏆 2. / 97 Read more »