US consumer prices in April saw their biggest decrease since December 2008, according to the latest government figures, with retail apparel prices falling for the third month in a row.
The apparel index fell 0.3% during the month, according to figures from the US Bureau of Labor Statistics yesterday. This compares with a drop of 0.1% month-on-month in February and a 1.0% decline in March.
The overall Consumer Price Index (CPI), a measure of inflation or price increases, fell 0.4% during the month, mainly fuelled by lower gasoline prices. Adjusted to take food and energy items out of the index, April’s CPI was 0.1% higher than in March.
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