How Has COVID-19 Impacted the Global Economy?


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The coronavirus pandemic has significantly impacted economic activity worldwide. Here's a breakdown by region of the damage done so far.

U.S. consumer prices dropped in April by the most since the Great Recession, weighed down by a plunge in demand for gasoline and services including airline travel as people stayed home during the coronavirus crisis.

The Labor Department said Tuesday its consumer price index tumbled 0.8% last month after falling 0.4% in March. That was the largest decline since December 2008 when the economy was in the throes of a recession, and marked the second straight monthly decrease in the CPI.

The Labor Department said in-store data collection has been suspended since March 16, because of risks of exposure to COVID-19, the respiratory illness caused by the coronavirus.

The Federal Reserve tracks the core personal consumption expenditures (PCE) price index for its 2% inflation target. The core PCE price index increased 1.7% year-on-year in March after rising 1.8% in February. April's core PCE price index data will be released at the end of the month.


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