U.S. March CPI Surges; February PCE Rises, Data Show
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Washington — The U.S. Labor Department reported consumer prices jumped 0.9% in March, after a 0.3% rise in February, while the Commerce Department previously recorded a 0.4% increase in the PCE price index for February, according to government releases this week.
Washington — The U.S. Labor Department reported consumer prices jumped 0.9% in March, after a 0.3% rise in February, while the Commerce Department previously recorded a 0.4% increase in the PCE price index for February, according to government releases this week.
The monthly increases pushed annual CPI to 3.3% and annual PCE to 2.8%, with energy prices, notably gasoline, driving large monthly jumps; markets and policymakers noted the readings this week as they reassess the likelihood of near-term Federal Reserve rate cuts.
More context
Timeline
- 1. February: Commerce Department reports PCE price index rose 0.4% month-over-month.
- 2. March: Consumer prices rose 0.3% earlier in February, per prior BLS data.
- 3. Early April (reported April 10): Labor Department releases March CPI showing a 0.9% monthly increase.
- 4. March reporting highlights energy prices jumping sharply, with gasoline showing large monthly gains.
- 5. Market participants and policymakers note implications for near-term Federal Reserve rate-cut prospects.
Why it matters
Higher consumer prices can mean your dollar doesn't stretch as far. Especially with energy costs like gasoline on the rise. Keep an eye on your budget and consider ways to conserve fuel.
Sources
JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
