Used cars and trucks drove the growth with a 5.4 per cent gain, while gasoline rose 2.0 per cent, though that was less than its 5.6 per cent rise in July. — Reuters pic
The Labor Department’s consumer price index fell into the negative for three months starting in March as the coronavirus pandemic slammed the global economy, causing a huge drop in crude prices amid oversupply concerns as well as sharp pullbacks in consumer spending in some areas. Used cars and trucks drove the growth with a 5.4 per cent gain, while gasoline rose 2.0 per cent, though that was less than its 5.6 per cent rise in July.
However, education fell 0.3 per cent, which the Labor Department said was its first decline since the index started in 1993, while personal care fell by the same amount after rising in June and July.