Inflation in US is at the record low 0.3 percent

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Inflation in the United States slowed to 0.3 percent year-on-year in April, from 1.5 percent in March. Inflation in the world’s largest economy came under pressure mainly from lower energy costs due to sharply lower oil prices. The corona crisis also plays a role in the fall in inflation.

Economists had generally expected inflation to be 0.4 percent. So-called core inflation, excluding fluctuating energy and food prices, was 1.4 percent from 2.1 percent a month earlier. On a monthly basis, US consumer prices fell by 0.8 percent.

Due to the corona crisis and measures to combat the outbreak, demand for certain services and goods is under pressure, which in turn is causing weaker prices.

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