US disinflation accelerated in April

UK inflation

The coronavirus shock is causing US inflation to edge closer to negative territory for the first time since the 2008 financial crisis, April figures reveal.

The personal consumption expenditure (PCE) price index – the Federal Reserve’s headline inflation figure – fell to 0.5% in April, down from 1.3% in March and 1.8% in February.

This is the lowest inflation has been since December 2015. Headline inflation has not fallen this quickly since November 2008.

The core PCE price index was 1% in

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