Consumer Inflation Is Tame

The CPI came in in-line with expectations today, at +0.1% for March. Core CPI, ex-food and energy was unchanged.


On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 per cent in March, the U.S. Bureau of labour Statistics reported today.

Over the last 12 months, the index increased 2.3 per cent before seasonal adjustment. The seasonally adjusted increase in the all items index was mostly due to an increase in the fresh fruits and vegetables index, which rose 4.6 per cent in March and accounted for over 60 per cent of the all items increase.

Other food at home indexes were mixed and the index for food away from home was unchanged. The index for energy and for all items less food and energy were both unchanged in March. Within energy, an increase in the electricity index was offset by declines in the indexes for gasoline and natural gas. Within all items less food and energy, the indexes for medical care, new vehicles, and used cars and trucks posted increases, while the indexes for shelter, household furnishings and operations, and apparel declined.


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