image credit: Pixabay

May consumer prices fall 0.1%, the third consecutive month

June 10, 2020

Via: ABC News

WASHINGTON — U.S. consumer prices dropped in May for the third straight month as the coronavirus pandemic pushed the American economy into a recession.

The Labor Department said Wednesday that its consumer price index fell 0.1% last month after tumbling 0.8% in April and 0.4% in March. Excluding food and energy prices, which bounce around from month to month, so-called core inflation fell 0.1%, tumbling for the third consecutive month for the first time ever.

Read More on ABC News