Breaking News
Apr 10, 2024
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Consumer price inflation in March accelerated to an annual pace of 3.5% and advanced 0.4% for the month, the U.S. Bureau of Labor Statistics reported Wednesday.
Annual inflation accelerated for the second month in a row to 3.5% in March, up from 3.2% in February and 3.1% in January.
Core inflation, which excludes food and energy prices, held steady at 0.4% from the previous month and rose 3.8% from a year ago in March.
The persistent inflation was driven by a sharp jump in transportation prices of 10.7%, and steady but elevated housing inflation of 5.7%.
The index for shelter and gasoline contributed to over half of the monthly index for all items.
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