WASHINGTON (AP) — 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 0.1% last month after tumbling 0.8% in April and 0.4% in March. Excluding food and energy prices, which bounce around from month to month, so-called core inflation fell 0.1%, falling for the third consecutive month for the first time ever.
The pandemic and the quarantines meant to contain it pushed the U.S. economy into recession. Weaker demand from customers pushes prices down.
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