US consumer prices fell 0.2 per cent in March, the US Labor Department reported Tuesday, on the back of a sharp drop in the price of petrol and steady food prices.
Petrol prices fell 4.4 per cent after rising 9.1 per cent in February.
Excluding volatile food and energy prices, the seasonally adjusted consumer price index was up 0.1 per cent in March. The index had increased by 0.2 per cent in February.
On an annual basis, the consumer price index was up 1.5 per cent in March. This compares to 2.0 per cent in February and is the smallest increase since the 12 months ending July 2012.
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