Consumer Prices See Largest Decline Since 2008

The Consumer Price Index decreased 0.8% in April on a seasonally adjusted basis, the largest monthly decline since December 2008, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the all items index increased 0.3%.

Prices for all items less food and energy, the “core CPI,” decreased 0.4% in April, the largest monthly decline in the history of the series, which dates to 1957. The index increased 0.3% for the 12 months ending April, the smallest 12-month increase since October 2015.

The food index increased 1.5% in April, after rising 0.3% in March. Prices for food at home increased sharply in April, rising 2.6%, while food away from home increased modestly, rising 0.1%.

The energy index declined 10.1% in April, its largest monthly decrease since November 2008, led by declines in gasoline and fuel oil.


Read the BLS release.