The Consumer Price Index (CPI) fell 0.2% on a year-over-year basis in April, down from a 0.9% gain in March. This was the first year-over-year decline in the CPI since September 2009. The CPI declined as energy prices fell as a result of the COVID-19 pandemic. Excluding energy, the CPI rose 1.6%. On a seasonally adjusted monthly basis, the CPI fell 0.7% in April. Excluding food and energy, the seasonally adjusted CPI fell 0.1%. Compared with April 2019, consumers paid less for transportation (-4.4%), clothing and footwear (-4.1%), and recreation, education and reading (-0.7%). In contrast, the growth in food prices ... (full story)