12.05.202012:40:00UTC+00U.S. Consumer Prices Decrease In Line With Estimates In April

Consumer prices in the U.S. decreased in line with economist estimates in the month of April, according to a report released by the Labor Department on Tuesday.

The Labor Department said its consumer price index slid by 0.8 percent in April after falling by 0.4 percent in March.

The drop by the index, which matched economist estimates, reflects the largest monthly decline since December of 2008.

Gasoline prices led the way lower, plummeting by 20.6 percent, although the nosedive was partly offset by a sharp increase in food prices.

Excluding food and energy prices, core consumer prices fell by 0.4 percent in April after edging down by 0.1 percent in March. Economists had expected core prices to dip by 0.2 percent.