Gasoline Fuels A Big Leap In The Consumer Price Index For March

The price of gasoline jumped 9.1% in March accounting for nearly half of the seasonally adjusted increase in the CPI.

Largest Monthly Leap Since August 2012

The BLS reports the Largest Month-Over-Month CPI Increase since August of 2012.

Month-Over-Month Details

  • The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in March on a seasonally adjusted basis after rising 0.4 percent in February.
  • The March 1-month increase was the largest rise since a 0.6-percent increase in August 2012. 
  • The gasoline index continued to increase, rising 9.1 percent in March and accounting for nearly half of the seasonally adjusted increase in the all items index. The natural gas index also rose, contributing to a 5.0-percent increase in the energy index over the month. 
  • The food index rose 0.1 percent in March, with the food at home index and the food away from home index both also rising 0.1 percent. 
  • The shelter index increased in March as did the motor vehicle insurance index, the recreation index, and the household furnishings and operations index. 
  • Indexes which decreased over the month include apparel and education.
  • The index for all items less food and energy rose 0.3 percent in March.

CPI Year-Over-Year

CPI Year-Over-Year Percent Change NSA 2021-03

Year-Over-Year Details

  • Over the last 12 months, the all items index increased 2.6 percent before seasonal adjustment, a larger increase than the 1.7-percent reported for the period ending in February.
  • The index for all items less food and energy rose 1.6 percent over the last 12 months, after increasing 1.3 percent over the 12 month period ending in February. 
  • The food index rose 3.5 percent over the last 12 months, while the energy index increased 13.2 percent over that period.

Medical Inflation

The CPI seriously underweights medical expenses by averaging in Medicare and Medicaid.

Healthcare services make up 17.75% of the PPI but only 6.97% of the CPI.

1 2
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.