US Consumer Prices
Fall for the Third Month in a Row The Labor Department released
numbers for consumer prices
for May on Wednesday. The numbers reveal that
the consumer price index (CPI)
fell 0.1 percent last month. Economists were
expecting the CPI to hold
for the month of May. The drop marks the
first time the CPI has fallen for
three consecutive months. In April, the CPI took a
0.8 percent dive, the most
significant since Dec. 2008. Data collection by the
Labor Department has been
severely impacted by the global
coronavirus pandemic. On Monday, the National Bureau of
Economic Research declared that
the U.S. economy has been in
recession since February.