Overall CPI Changes:
• The Consumer Price Index for All Urban Consumers (CPI-U) saw a minor decrease of 0.1% in March, following a prior increase of 0.2% in February. This slight shift reflects ongoing fluctuations in consumer prices.
• Over the past year, the overall CPI rose by 2.4%, indicating a moderate increase in the cost of goods and services.
Energy:
• A significant decrease in the energy index by 2.4% was observed in March.
• Gasoline prices dropped sharply by 6.3%, overshadowing the increases in electricity (0.9%) and natural gas (3.6%).
Food:
• The food index experienced a rise of 0.4% in March, highlighting growing costs in this sector.
• Within this category, the prices for meats, poultry, fish, and eggs notably went up, with eggs experiencing a substantial hike of 5.9%.
Excluding Food and Energy:
• The index for all items excluding food and energy ticked up by 0.1% in March, reflecting stable inflation in core services.
• Notable price increases were seen in personal care (1.0%), medical care (0.2%), and education (0.4%).
• In contrast, airline fares dropped significantly by 5.3%, contributing to the overall moderation of the index.
Annual Changes:
• Over the last 12 months, the energy index fell by 3.3%, driven by a sharp 9.8% decline in gasoline prices.
• The food index increased by 3.0% year-over-year, underscoring sustained inflationary pressures in this segment.
• The index for all items less food and energy rose by 2.8%, marking the smallest annual increase since March 2021.
Source: U.S. Department of Labor – Bureau of Labor Statistics
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