U.S. consumer prices decline in March

U.S. 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 0.4% last month after edging up 0.1% in February. In the 12 months through March, the CPI rose 1.5%. That followed a 2.3% increase in February. Economists polled by Reuters had forecast the CPI dropping 0.3% in March and climbing 1.6% year-on-year.