Labor Department Reveals Shocking Drop In Key Economic Indicator
- 4 years ago
All eyes have turned to the Labor Department's newly released US core consumer price index, which fell 0.4% in April.
According to Business Insider, the core CPI excludes food and fuel. It was the largest monthly drop since 1957.
In April, overall US CPI fell 0.8%, which was the largest monthly drop since December 2008.
Economists and lawmakers will continue to keep an eye on the indicator, as falling prices over a sustained period could spark deflation.
That would likely delay any economic recovery from the coronavirus pandemic.
According to Business Insider, the core CPI excludes food and fuel. It was the largest monthly drop since 1957.
In April, overall US CPI fell 0.8%, which was the largest monthly drop since December 2008.
Economists and lawmakers will continue to keep an eye on the indicator, as falling prices over a sustained period could spark deflation.
That would likely delay any economic recovery from the coronavirus pandemic.