The Consumer Price Index (CPI) gained 0.4% in March seasonally adjusted (SA) after rising 0.2% prior, the U.S. Bureau of Labor Statistics reported. On a 12-month basis, the all items index is up 1.9% before seasonal adjustment.
The consensus forecast was 0.3%, ranging from a low of 0.2% to a high of 0.5%.
|CPI – M/M||0.2%||0.3%||0.2% to 0.5%||0.4%|
|CPI – Y/Y||1.5%||1.8%||1.7 % to 2.1%||1.9%|
|CPI less food & energy- M/M||0.1%||0.2%||0.2% to 0.2%||0.1%|
|CPI less food & energy – Y/Y||2.1%||2.1%||2.0% to 2.2%||2.0%|
The energy index rose 3.5% in March, representing roughly 60% of the total SA gain. The gasoline index rose sharply and the electricity index also gained, while the natural gas index declined.
The index for all items less food and energy rose 0.1% in March, matching the month prior. indexes for shelter, medical care, new vehicles, recreation, education, and tobacco all increased in March, while indexes for apparel, used cars and trucks, and airline fares all fell.
The all items index rose 1.9% for the 12-month period ending March, up from the 1.5% increase for the period ending February.
The index for all items less food and energy gained 2.0% on the 12-month. The food index was up 2.1% year-over-year, its largest 12-month increase since the period ending March 2015. The energy index fell 0.4% on the year.