The Consumer Price Index (CPI) edged up 0.6% on a seasonally adjusted basis, reported the US Bureau of Labor Statistics. In February, it had risen 0.4%.
“The March 1-month increase was the largest rise since a 0.6% increase in August 2012. Over the last 12 months, the all items index increased 2.6 percent before seasonal adjustment.”
Before seasonal adjustment, the all items index rose by 2.6%, over the past 12 month period.
(Source: U.S. Bureau of Labor Statistics)
Energy Index
In March, the index of energy increased 5%. The index for gasoline rose 9.1%, “accounting for nearly half of the seasonally adjusted increase in the all items index”, stated the bureau. The electricity index remained unchanged, while the natural gas index rose 2.5%.
Over the last year, the index for energy increased 13.2%. Gasoline prices soared 22.5% since this time last year. Likewise, the natural gas index rose 9.8%, and the electricity index rose 2.5% over the past 12-month period.
Food Index
The index for food edged up 0.1% for the month. The food at home index edged up 0.1%, as did the index for food away from home by 0.1%, while two of the six major grocery store indexes saw percentage increases.
Since this time last year, the food at home index rose 3.3% and the food away from home index increased 3.7%.
“All six major grocery store food group indexes increased over the period, with increases ranging from 1.6 percent (dairy and related products) to 5.4 percent (meats, poultry, fish, and eggs),” explained the Bureau of Labor Statistics.
(Source: U.S. Bureau of Labor Statistics)
All Items Less Food and Energy
In March, the index for all items less food and energy increased 0.3%. Several of the component indexes all saw increases over the month including the shelter index by 0.3%, and both the rent index and index for owners’ equivalent rent rose 0.2%.
Over the last 12 months, the all items less food and energy index increased 1.6%.
“Among the indexes rising more quickly were those for shelter (+1.7%), used cars and trucks (+9.4%), and medical care (+1.8%). Indexes that declined over the last 12 months include lodging away from home (-6.4%), airline fares (-15.1%), and apparel (-2.5%),” reported Bureau of Labor Statistics.
Sources cited: https://www.bls.gov/news.release/archives/cpi_04132021.htm
Sarah has been writing on the topics of politics, history and finance for over a decade. She is currently an editor at CPI Inflation Calculator, covering the topics of CPI, inflation, US economy and economic commentary.
