March 2016 Consumer Price Index

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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 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 rose 0.9 percent before seasonal adjustment.

The food index declined in March, while the indexes for energy and for all items less food and energy rose, leading to the slight seasonally adjusted increase in the all items index. The food index fell 0.2 percent after rising in February, as five of the six major grocery store food groups declined. The energy index rose for the first time since November, with all of its major components except natural gas increasing.

While the index for all items less food and energy increased in March, the 0.1 percent advance was the smallest increase since August. Major component indexes were mixed in March. The indexes for shelter, recreation, medical care, education, tobacco, and personal care were among those that rose, while the indexes for apparel, airline fares, communication, household furnishings and operations, and used cars and trucks all declined.

The all items index rose 0.9 percent over the last 12 months, a slightly smaller increase than the 1.0-percent change for the 12 months ending February. The index for all items less food and energy has risen 2.2 percent over the last 12 months, and the food index has increased 0.8 percent. Despite rising in March, the energy index has declined 12.6 percent over the last year.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Sep. Oct. Nov. Dec. Jan. Feb. Mar. ended 2015 2015 2015 2015 2016 2016 2016 Mar. 2016

Consumer Price Index Data for March 2016

Food

The food index fell 0.2 percent in March after rising 0.2 percent in February. The food at home index decreased 0.5 percent, the largest decline since April 2009. Five of the six major grocery store food group indexes fell, with the fruits and vegetables index declining 1.9 percent, the largest decrease since January 2005. The index for fresh fruits fell 1.7 percent, and the fresh vegetables index declined 3.2 percent. The cereals and bakery products index fell 0.6 percent in March, and the index for dairy and related products decreased 0.5 percent. The index for meats, poultry, fish, and eggs fell 0.3 percent, as did the index for nonalcoholic beverages. The index for other food at home, in contrast, rose in March, increasing 0.4 percent. The index for food at home has declined 0.5 percent over the last 12 months, with declines in the indexes for dairy and related products, for meats, poultry, fish, and eggs, and for cereals and bakery products outweighing increases in the other indexes. The index for food away from home rose 0.2 percent in March and has risen 2.7 percent over the past 12 months.

Energy

The energy index rose 0.9 percent in March after declining in each of the 3 previous months. The gasoline index, which fell 13.0 percent in February, rose in March, increasing 2.2 percent. (Before seasonal adjustment, gasoline prices increased 10.2 percent in March.) The fuel oil index also turned up in March, rising 1.7 percent, its first increase since May. The electricity index rose 0.4 percent in March after declining in each of the last 3 months. In contrast, the index for natural gas turned down in March, falling 0.7 percent after rising 1.0 percent in February. Despite the March increases, all the major energy component indexes have declined over the past year. The fuel oil index declined 34.8 percent, and the gasoline index fell 20.9 percent. The index for natural gas decreased 9.2 percent, and the electricity index declined 1.7 percent.

All items less food and energy

The index for all items less food and energy increased 0.1 percent in March after rising 0.3 percent in February. The shelter index rose 0.2 percent after rising 0.3 percent in both January and February. The index for rent rose 0.3 percent and the index for owners' equivalent rent increased 0.2 percent. The index for lodging away from home turned down in March, falling 1.8 percent after rising in 5 of the 6 previous months. The medical care index rose slightly in March, increasing 0.1 percent after rising 0.5 percent in both January and February. The indexes for prescription drugs and physicians' services both rose, but the hospital services index declined. The recreation index rose 0.2 percent in March, and the tobacco index rose 0.5 percent. The indexes for education and personal care both rose slightly, increasing 0.1 percent. The indexes for new vehicles and for alcoholic beverages were unchanged in March, while a number of indexes declined. The apparel index, which rose 1.6 percent in February, fell 1.1 percent in March. The index for airline fares fell 0.9 percent, and the indexes for used cars and trucks, for communication, and for household furnishings and operations all declined 0.1 percent.

The index for all items less food and energy increased 2.2 percent over the past 12 months, a slightly smaller figure than the 2.3 percent change for the 12 months ending February. The shelter index has risen 3.2 percent over the last year, and the index for medical care has risen 3.3 percent. The indexes for airline fares, used cars and trucks, apparel, communication, and household furnishings and operations have all declined over the past 12 months.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent over the last 12 months to an index level of 238.132 (1982-84=100). For the month, the index increased 0.4 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 0.5 percent over the last 12 months to an index level of 232.209 (1982-84=100). For the month, the index increased 0.5 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 0.4 percent over the last 12 months. For the month, the index rose 0.6 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.

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