Consumer prices continued their ascend in March albeit to a plateauing state, as shelter and food inflation substantially keeps outweighing major declines across other components.
Latest figures from the BLS show headline inflation rose to 5% last month, lower than forecasts calling for a print of 5.2% and a full percentage point lower than February’s 6%. Core inflation, which doesn’t account for volatile components such as food and energy, rose 0.4% month-over-month to an annual 5.6%— higher than the previous month’s figure of 5.5% but still in line with forecasts.
The largest deflationary component on the March CPI print were energy prices, which fell 3.5% from the prior month and are down 17% from one year ago. The cost of food, meanwhile, remained unchanged last month, aside from a 0.6% month-over-month increase in the food away from home index. However, the index for shelter was by far the biggest contribution to March’s overall CPI gain, rising 0.6% from February to an annualized 8.2%.
Information for this story was found via the BLS. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
