Summary

• The Consumer Price Index (CPI) rose 0.9 percent last month - triple February’s 0.3 percent pace and the largest monthly increase since early in the pandemic.
• Core inflation rose just 0.2 percent in March, unchanged from February. Year-over-year, it edged up only slightly to 2.6 percent.
• The energy index surged 10.9 percent in March - the largest monthly increase since September 2005 - and gasoline prices jumped 21.2 percent, a record monthly increase.

By Bryan Cutsinger

March’s inflation spike looks alarming, but it’s driven entirely by energy shocks. Strip that out, and the trend looks largely unchanged.

Inflation surged in March, the Bureau of Labor Statistics (BLS)

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