Consumer prices rose 0.1 per cent in March from the previous month, and were up 2.9 per cent year-on-year, the Labour Department said today.
The core rate, which excludes volatile energy and food prices, rose 0.2 per cent, and was up 2.7 per cent year-on-year. The rises in both the headline and core CPI indexes were in line with expectations.
In February, the CPI rose 0.3 per cent, and was up 3.5 per cent year-on-year. The core rate also rose 0.3 per cent, and increased 2.7 per cent year-on-year.
For the first three months of the year, the CPI rose at an annual rate of 4.0 per cent, while the core CPI rose 3.5 per cent.
Last year, the CPI rose 3.4 per cent, and the core rate was up 2.6 per cent. The rise in the headline CPI in March was mainly due to rising food prices, as well as increases in the core CPI components. This was partly offset by falling energy prices.
The rise in the core rate was led by housing, clothing, medical care, and education costs. In March, energy prices fell 2.1 per cent, the biggest drop since last August.
Gasoline prices fell 3.8 per cent, the largest decline since last August, while fuel oil prices fell 3.0 per cent. Natural gas prices fell 2.1 per cent.
AFP