Inflation softens in March led by gasoline prices, CPI says

Friday, 10 April 2020 20:08 WIB

Ekonomi ASCPI Amerika


The CPI dipped 0.4% last month, the biggest decline in five year, the Labor Department said Friday. The drop was in line with the forecast of economists surveyed by MarketWatch. Core inflation, minus food and energy prices fall 0.1% in March, the first decline in ten years. The rate of inflation over the past 12 months fell to 1.5% from 2.3%.

The cost of gasoline fell 10.5% in March after seasonal adjustment. The food prices rose 0.3%. The core rate of inflation was pushed lower by declines in airline fares, lodging away from home, and apparel.

The COVID-19 shut-down is creating massive slack in the economy, and price pressures are expected to continue to fall in coming months. Once the economy opens up, there is more of a debate. Some economists think core inflation will continue to drift down. Fed Chairman Jerome Powell backed this view on Thursday, saying he wasn’t worried about a spike in inflation. But other economists aren’t so sure.

Financial markets were closed Friday for the Easter holiday period.

Source: Marketwatch




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