Economics
U.S. Core Consumer-Price Index Fell by Most on Record in April
- But prices for food at home post biggest increase since 1974
- Airfares, apparel, car insurance drive drop in core gauge
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A key measure of U.S. consumer prices declined in April by the most on record as travel and apparel spending collapsed during the coronavirus pandemic.
The core consumer-price index, which excludes volatile food and fuel costs, fell 0.4% from the prior month after a 0.1% decrease in March, Labor Department figures showed Tuesday. That’s the biggest drop in data back to 1957. Compared with April of last year, the core CPI rose 1.4%, the smallest annual gain since 2011.