First time in 60 years that core CPI has dropped for 3 consecutive months
On June 10, 2020, the Department of Labor released CPI numbers for May and there was a chorus singing deflationary tunes for the rest of the week. Will the chorus get louder over the coming months or lose its voice in the heat of the summer?
And that 5% drop is likely to be a whole lot worse in the second quarter
On May 28th, the Commerce Department reported that our U.S. economy shrank at an even faster pace than previously estimated in the first quarter of 2020 and consensus expectations are that the second quarter of 2020 will be far worse.