The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.8 percent in April on a seasonally adjusted basis, the largest monthly decline since December 2008, the U.S. Bureau of Labor Statistics reported today.
A 20.6-percent decline in the gasoline index was the largest contributor to the monthly decrease in the seasonally adjusted all items index, but the indexes for apparel, motor vehicle insurance, airline fares, and lodging away from home all fell sharply as well.
The index for all items less food and energy fell 0.4 percent in April, the largest monthly decline in the history of the series, which dates to 1957. Along with the indexes mentioned above, the indexes for used cars and trucks and recreation also declined.
BLS
Economic deflation and economic depression have historically gone hand ‘n hand.
Wednesday, May 13, 2020 · 1:17:45 PM +00:00
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JoeFriday
(AP) — Wholesale prices slid a record 1.3% in April. The Labor Department said Wednesday that its producer price index, which measures inflation before it reaches the consumer, fell by the largest amount on record. Over the past 12 months, wholesale prices are down 1.2%, a further indication that inflation pressures are remaining dormant.