US consumer prices decline in March

• The Labor Department said on Friday its consumer price index dropped 0.4pc last month after edging up 0.1pc in February.
• That followed a 2.3pc increase in February. Economists polled by Reuters had forecast the CPI dropping 0.3pc in March and climbing 1.6pc year-on-year.

WASHINGTON: US consumer prices fell in March and further decreases are likely as the novel coronavirus outbreak suppresses demand for some goods and services, offsetting price increases related to shortages resulting from disruptions to the supply chain.

The Labor Department said on Friday its consumer price index dropped 0.4pc last month after edging up 0.1pc in February.

In the 12 months through March, the CPI rose 1.5pc. That followed a 2.3pc increase in February. Economists polled by Reuters had forecast the CPI dropping 0.3pc in March and climbing 1.6pc year-on-year.