Friday, April 17, 2015

Energy and Shelter Drive CPI Monthly Increase

The Consumer Price Index rose 0.2% in March on a seasonally adjusted basis, driven by increases in energy and shelter. Over the last 12 months, the CPI declined 0.1% before seasonal adjustment.

The energy index rose 1.1% in March due to advances in the gasoline index, which increased by 3.9%, the largest increase since February 2013. Fuel oil increased 5.9% from February. Over the past 12 months, all energy indices declined except for electricity, which rose 0.9%.

The food index fell 0.2%, driven by a 0.5% decline in the index for food at home – the largest decline since April 2009. The food index rose 2.3% year-over-year driven by a 2.9% increase in the index for food away from home.

The index for all items less food and energy rose 0.2%, consistent with January and February. The shelter index increased by 0.3%, up from 0.2% in February. Medical care and hospital services saw considerable gains, rising 0.4% and 0.6% after declining in February. Both used and new auto indices rose in March, 1.2% and 0.2% respectively. The index for all items less food and energy rose 1.8% over the last 12 months, up slightly from the 1.7% increase for the 12 months ending in February.

Read the BLS release

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