US consumer prices dip in May for third consecutive monthPeople shop for food the day before the Thanksgiving holiday at a Walmart Supercenter in Las Vegas. U.S. consumer prices dropped in May for the third straight month as the coronavirus pandemic pushed the American economy into a recession. The Labor Department said Wednesday that its consumer price index fell by 0.1 percent last month after tumbling by 0.8 percent in April and 0.4% in March. Excluding food and energy prices, which bounce around from month to month, so-called core inflation fell by 0.1 percent, tumbling for the third consecutive month for the first time ever. Over the past year, consumer prices are up by 0.1 percent and core prices are up by 1.2 percent.

Source: The Standard June 10, 2020 15:22 UTC