United States: Inflation rises in March from the prior month
Latest reading: Consumer prices increased 3.3% on a year-on-year basis in March, following a 2.4% increase in the previous month. March’s reading was the strongest since May 2024 and well above the Fed’s 2.0% target.
Relative to the prior month’s figures, there were higher price pressures for transportation (+5.0% in annual terms vs -0.5% in February) and energy (+12.6% vs +0.4% in February), linked to war in the Middle East. In contrast, price pressures reduced for food in March (+2.7% vs +3.1% in February). Finally, the change in housing prices was the same as in the prior month (+3.0% in March and February).
Meanwhile, core consumer prices were up 2.6% in annual terms in March, following a 2.5% rise in the previous month.
Lastly, consumer prices were up 0.87% in March in month-on-month terms, following a 0.27% rise in the previous month.