March 2015 Consumer Price Index

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in March on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index declined 0.1 percent before seasonal adjustment.

Increases in the energy and shelter indexes more than offset a decline in the food index and were the main factors in the rise of the seasonally adjusted all items index. The energy index rose 1.1 percent as advances in the gasoline and fuel oil indexes outweighed declines in the electricity and natural gas indexes. In contrast, the food index declined 0.2 percent, with the food at home index posting its largest decline since April 2009.

The index for all items less food and energy rose 0.2 percent in March, the same increase as in January and February. Along with the shelter index, a broad array of indexes rose in March, including medical care, used cars and trucks, apparel, new vehicles, household furnishings and operations, and recreation. The index for airline fares, in contrast, declined for the fourth time in the last 5 months.

The all items index declined 0.1 percent for the 12 months ending March. The energy index declined 18.3 percent over the span, more than offsetting increases in the indexes for food (up 2.3 percent) and all items less food and energy (up 1.8 percent).

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Sep. Oct. Nov. Dec. Jan. Feb. Mar. ended 2014 2014 2014 2014 2015 2015 2015 Mar. 2015

Consumer Price Index Data for March 2015

Food

The food index declined 0.2 percent in March after a 0.2-percent increase in February. The index for food at home turned sharply down in March, falling 0.5 percent. Five of the six major grocery store food group indexes declined. The fruits and vegetables index posted the largest decrease, falling 1.4 percent, its third decline in a row. The index for nonalcoholic beverages, which rose 0.6 percent in February, fell 0.6 percent in March. The index for dairy and related products fell 0.5 percent, as did the index for meats, poultry, fish, and eggs. The index for beef and veal, however, rose for the fourteenth month in a row, increasing 0.1 percent. The index for other food at home fell 0.1 percent in March after rising in February. The only major grocery store food group index to increase in March was cereals and bakery products, which increased 0.4 percent after declining in February. The food at home index has increased 1.9 percent over the past 12 months. Five of the six groups have risen over that span, with meats, poultry, fish, and eggs increasing the most, at 6.0 percent. The fruits and vegetables index, however, has declined 1.1 percent over the last 12 months. The index for food away from home rose 0.2 percent in March and has increased 2.9 percent over the past 12 months.

Energy

The energy index rose 1.1 percent in March after increasing 1.0 percent in February. The gasoline index increased 3.9 percent in March, its largest increase since February 2013. (Before seasonal adjustment, gasoline prices rose 10.5 percent in March.) The fuel oil index also rose in March, increasing 5.9 percent. In contrast, the index for natural gas declined 2.7 percent, and the electricity index fell 1.1 percent. Over the past 12 months, the electricity index has increased 0.9 percent, while the other energy indexes have sharply declined. Despite the March increases, the gasoline index has fallen 29.2 percent over the last 12 months, and the index for fuel oil has decreased 24.9 percent. The index for natural gas has also declined over the span, falling 14.4 percent.

All items less food and energy

The index for all items less food and energy increased 0.2 percent in March. The shelter index increased 0.3 percent, with the indexes for rent and owners' equivalent rent both rising 0.3 percent and the index for lodging away from home increasing 0.4 percent. The medical care index, which was unchanged in February, rose 0.3 percent in March. The index for medical care services rose 0.4 percent, with the indexes for physicians' services and for hospital services both rising 0.6 percent after declining in February. The index for used cars and trucks increased 1.2 percent after rising 1.0 percent the previous month. The apparel index rose 0.5 percent in March, its third consecutive increase. Also rising in March were the indexes for new vehicles, for alcoholic beverages, and for household furnishings and operations, all of which increased 0.2 percent. The tobacco index rose 0.4 percent, and the index for recreation advanced 0.1 percent. The index for airline fares, in contrast, declined 1.7 percent in March af ter rising in February.

The index for all items less food and energy has risen 1.8 percent over the past 12 months, a slight increase from the 1.7 percent increase for the 12 months ending February. Over the last 12 months, the shelter index has risen 3.0 percent, while the medical care index has increased 2.5 percent. The indexes for used cars and trucks, for apparel, and for airline fares have all declined over the past year.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.1 percent over the last 12 months to an index level of 236.119 (1982-84=100). For the month, the index rose 0.6 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) decreased 0.6 percent over the last 12 months to an index level of 231.055 (1982-84=100). For the month, the index rose 0.7 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) decreased 0.4 percent over the last 12 months. For the month, the index rose 0.7 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

Facilities for Sensory Impaired

Information from this release will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.