The March CPI rises 0.9% as gas prices rise due to the conflict in Iran
The consumer price index rose 0.9 percent in March, the largest monthly increase since June 2022, while a 21.2 percent increase in gasoline prices — the largest single-month increase in the index’s history — accounted for nearly three-quarters of the monthly increase, the Bureau of Labor Statistics reported.
Consumer prices rose 0.9 percent in March from the previous month – the biggest monthly gain since June 2022 – while gasoline prices recorded the biggest single-month increase since the index was first published in 1967. This is reported by the American Bureau of Labor Statistics Friday.
On an annual basis, the consumer price index for all urban consumers rose 3.3 percent, compared with 2.4 percent for the 12 months ending in February. according to the BLS.
The energy index rose 10.9 percent in March, led by a 21.2 percent increase in gasoline prices, which accounted for almost three-quarters of the monthly increase in all items. Heating oil rose 30.7 percent this month, the biggest monthly gain since February 2000, according to the BLS report.
The shelter index rose 0.3 percent in March, while the food index was flat, as declines in grocery store prices offset a 0.2 percent increase in food away from home, the BLS reported.
The index for all items minus food and energy rose 0.2 percent in March, with increases in air fares, clothing, home furnishings and activities, education and new vehicles, while the indexes for medical care, personal care and used cars and trucks fell.
The index for all items minus food and energy rose 2.6 percent over the year, after rising 2.5 percent in the 12 months ending in February.
E-mail Jessi Healey
