Higher Gas Prices, but Inflation Still Low

The Bureau of Labor Statistics released their consumer price index summary this morning.. The consumer price index increased by 0.4% in March after a 0.2% rise in February. It matched forecasts so no surprises there.

The all items index increased 1.9% over the past 12 months ending March, up slightly from the 1.5% rise for the period ending February.

The energy index rose 3.5% in March. A majority of this increase was from rising gasoline prices which jumped 6.5% in March after a 1.5% increase in February. The previous 3 months saw drops of over 5% per month.

The food index rose slightly, up 0.3% in March following a 0.4% increase in February.

The “core” CPI adjusted 12-months ending in March was lower, moving from 2.1% in February to 2.0%, the lowest level since February 2018.