13 May
The consumer price index (CPI) continues to fall as the Covid-19 pandemic has forced businesses to shutdown and people to remain under lockdown.
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The consumer spending has drastically reduced amid this environment with the threat of rising inflation or even deflation.
Pedro da Costa, a journalist, shared an article on the decline in consumer prices in the US. The consumer price index (CPI) dropped 0.8% in April after falling 0.4% in March, which is biggest decline since December 2008 when the country was going through recession.
The article is based on a report from the Labour Department that showed a record decline in prices in April raising the possibility of deflation.
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