Consumer prices unexpectedly fell in April ; the first decline in a year

The Labor Department said on Wednesday its seasonally adjusted Consumer Price Index slipped 0.1 percent in April, pulled down by a 1.4 percent decline in energy costs. Over the last 12 months, the index increased 2.2 percent before seasonal adjustment.

“The continuing stability of the index for all items less food and energy has resulted in an increase over the last 12 months of 0.9 percent, the smallest 12-month increase since January 1966.”

The latest CPI data suggests a disinflationary trend that will allow the Federal Reserve to concentrate on growth and keep interest rates near zero for some time.

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