–CPI Core Unchanged
–Year-over-Year CPI +2.3%, Core +1.0%
By Brai Odion-Esene
WASHINGTON (MNI) – The U.S. Consumer Price Index advanced 0.1% in
March, in line with economists projections, while the core was unchanged
from the previous month, the Bureau of Labor Statistics reported
Wednesday morning.
The year-over-year pace of overall CPI now stands at +2.3%, core
CPI at +1.1%.
The BLS said overall CPI was mostly driven by an increase in fruits
and vegetables prices — mostly tomatoes — which gained 4.6% on the
month and accounted for over 60% of the overall increase. The March
increase is the largest since February 2007.
The food price index was up 0.2%, boosted by ‘food at home,’ which
rose +0.5%.
The unrounded overall increase was 0.06342%.
The energy price index was also unchanged in March. The BLS said a
2.1% increase in electricty was offset by declines in gasoline prices
(-0.8%) and natural gas (-0.7%).
Within the unchanged core index, prices for medical care continue
to accelerate up 0.3% after 0.5% increases in February and January. New
vehicles also rose (+0.1%), as well as used cars and trucks (+0.5%).
The declines where seen in shelter (-0.1%), household furnishings
and operations (-0.4%) and apparel (-0.4%).
The unrounded core CPI increase was 0.03853%.
Airline fares rose 0.4% in Marcg, but the transportation category
overall was down 0.1%.
The median forecast in a Market News International survey of
economists had expected overall CPI to rise by 0.1%, with the core also
climbing 0.1%.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDR$,MAUDS$,M$U$$$]
