ROCHESTER, N.Y. – Consumer prices fell from March to April, bringing annual inflation down to 2.4%. This marks the first time in nearly five years that prices have decreased, moving closer to the Federal Reserve’s target of 2% inflation.
Economists are concerned about the reasons behind the price drop. Economists all want consumer prices to come down, just not this way. The deflation follows a decline in consumer spending, which is attributed to decreased consumer confidence. Economists believe this price decrease is temporary and that tariffs may soon impact American consumers.
In March, the largest price decreases were seen in gas, airline tickets, and hotel rooms.
In other consumer news, Fisher-Price has voluntarily recalled its Brunch and Go Stroller toy. The toy, sold from 2022 to last month at retailers like Walmart and Nordstrom, poses a choking hazard as it can break when put in children’s mouths. Fisher-Price is offering a free replacement for the toy.
Cabot Creamery has recalled its Extra Creamy Sea-Salted Premium Butter due to elevated bacteria levels. The recall affects seven states, including New York. Cabot stated that 99.5% of the recalled product has been recovered, but the recall was issued as a precaution. Consumers can return the 8.5-pound package for a full refund.
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