US Consumer Price Index Rises 3.3% Year-Over-Year in March

On Friday, the US Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.9% in March on a seasonally adjusted basis, following a 0.3% increase in February. Over the past 12 months, the all-items index advanced 3.3% before seasonal adjustment.

Energy rose 10.9% in March, led by a 21.2% increase in gasoline, which accounted for nearly three quarters of the monthly all-items increase. Shelter rose 0.3%. The food index was unchanged, with food at home down 0.2% and food away from home up 0.2%.

The index for all items less food and energy rose 0.2% in March, after a 0.3% change in February. Monthly increases were recorded for airline fares, apparel, household furnishings and operations, education, and new vehicles. Medical care, personal care, and used cars and trucks were among the indexes that declined.

Year-over-year, the all-items index rose 3.3% in March, after a 2.4% increase in February. The index for all items less food and energy rose 2.6%. The energy index increased 12.5%, while the food index rose 2.7%.