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BLS: CPI increased 0.1% in March; Core CPI increased 0.4%


From the BLS:
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in March on a seasonally
adjusted basis, after increasing 0.4 percent in February, the U.S. Bureau of Labor Statistics reported
today. Over the last 12 months, the all items index increased 5.0 percent before seasonal adjustment.

The index for shelter was by far the largest contributor to the monthly all items increase. This more
than offset a decline in the energy index, which decreased 3.5 percent over the month as all major
energy component indexes declined. The food index was unchanged in March with the food at home index
falling 0.3 percent.

The index for all items less food and energy rose 0.4 percent in March, after rising 0.5 percent in
February. Indexes which increased in March include shelter, motor vehicle insurance, airline fares,
household furnishings and operations, and new vehicles. The index for medical care and the index for
used cars and trucks were among those that decreased over the month.

The all items index increased 5.0 percent for the 12 months ending March; this was the smallest 12-month
increase since the period ending May 2021. The all items less food and energy index rose 5.6 percent
over the last 12 months. The energy index decreased 6.4 percent for the 12 months ending March, and the
food index increased 8.5 percent over the last year.

emphasis addedCPI was lower than expected and core CPI was at expectations. I’ll post a graph later today after the Cleveland Fed releases the median and trimmed-mean CPI.

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