Coast-to-coast shutdowns of businesses and stay-at-home orders from the effort to contain the new coronavirus pandemic took their toll on U.S. consumer prices in March, sending them down by the most in five years.
FILE PHOTO: Grocery store shelves are seen inside Kroger Co.'s Ralphs supermarket amid fears of the global growth of coronavirus cases, in Los Angeles, California, U.S. March 15, 2020. REUTERS/Patrick T. Fallon/File Photo
But the drop in prices was especially pronounced in a handful of categories. And in a handful of cases, the quarantine efforts are driving prices higher.Airlines are operating at a fraction of their pre-crisis capacity and national hotel chains have largely shut their doors due to the absence of travelers.
U.S. gasoline prices slid 10.5%, the most in four years, while fuel oil prices fell 13.7%, which was the largest slide since 2008.For many U.S. consumers, the crisis hit home when professional sports leagues like the National Basketball Association, Major League Baseball and National Hockey League suspended their seasons, and state and local stay-at-home orders meant youth and other amateur leagues were placed on hiatus, just as spring sports were about to start up.
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