Declines in sectors affected by the coronavirus outbreak fuel the drop in the United States' inflation rate.
The"core" price index for all items except food and energy fell 0.1%.Year-on-year, the price index was up 1.5% in March, but that was smaller than February's growth of 2.3%.
"The disinflationary impulse, along with the great disruption in economic and financial market activity, is a key reason why the Fed is unleashing vast new monetary policy stimulus," Oxford Economics wrote in an analysis. The virus affected the survey's data collection itself, with the Labor Department saying business shutdowns and difficulties contacting parties normally surveyed in-person meant"many indexes are based on smaller amounts of collected prices than usual."
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