Consumer Price Index rises 2.4% in March

by Talk Business & Politics staff ( 61 views 

The Consumer Price Index for All Urban Consumers increased 2.4% in March, from the same month in 2017, and was the largest year-over-year rise since March 2017, according to the Bureau of Labor Statistics. The increase also was higher than the average annual rise over the past 10 years of 1.6%. This data from the Consumer Price Index program is not seasonally adjusted.

Consumer prices for food increased 1.3% in March, from the same month in 2017. Prices for food at home increased 0.4%, and prices for food away from home rose 2.5%. Energy prices rose 7%. Prices for gasoline increased 11.1%; electricity, 2.2%; and natural gas, 3.4%.

Consumer prices of all items, excluding food and energy, rose 2.1%, and this was the largest year-over-year rise since February 2017, according to the BLS. Commodities prices, excluding food and energy commodities, fell 0.3%.

Apparel prices increased 0.3%. New vehicle prices fell 1.2%. Medical care commodities rose 1.4%. Cost of services, excluding energy services, increased 2.9%. Consumer prices for shelter rose 3.3%. Medical care services costs were up 2.1%. Education and communication costs were down 0.2%.