March 2018 Consumer Price Index

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The Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.1 percent in March on a seasonally adjusted basis after rising 0.2 percent in February, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.4 percent before seasonal adjustment.

A decline in the gasoline index more than outweighed increases in the indexes for shelter, medical care, and food to result in the slight seasonally adjusted decline in the all items index. The energy index fell sharply due mainly to the 4.9-percent decrease in the gasoline index. The index for food rose 0.1 percent over the month, with the indexes for food at home and food away from home both increasing.

The index for all items less food and energy increased 0.2 percent in March, the same increase as in February. Along with shelter and medical care, the indexes for personal care, motor vehicle insurance, and airline fares all rose. The indexes for apparel, for communication, and for used cars and trucks all declined over the month.

The all items index rose 2.4 percent for the 12 months ending March, the largest 12-month increase since the period ending March 2017 and higher than the 1.6-percent average annual rate over the past 10 years. The index for all items less food and energy rose 2.1 percent, its largest 12-month increase since the period ending February 2017. The energy index increased 7.0 percent over the past 12 months, and the food index advanced 1.3 percent.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Sep. Oct. Nov. Dec. Jan. Feb. Mar. ended 2017 2017 2017 2017 2018 2018 2018 Mar. 2018

Food

The food index rose 0.1 percent in March after being unchanged in February. The index for food away from home increased 0.1 percent in March. The index for food at home also increased 0.1 percent as four of the six major grocery store food group indexes rose. The index for meats, poultry, fish, and eggs increased 0.8 percent in March after declining in January and February. The index for cereals and bakery products rose 0.4 percent, as did the index for nonalcoholic beverages. The index for dairy and related products also rose in March, advancing 0.3 percent after declining 0.3 percent in February.

The fruits and vegetables index declined 0.7 percent in March after falling 0.5 percent the prior month. The index for other food at home also fell for the second month in a row, declining 0.2 percent.

The index for food at home rose 0.4 percent over the last 12 months. The index for meats, poultry, fish, and eggs increased 2.1 percent over the span. Other food at home price indexes were relatively flat; all five of the remaining grocery store food groups moved less than 1 percent over the last year. The index for food away from home increased 2.5 percent over the last 12 months.

Energy

The energy index fell 2.8 percent in March after rising in 3 of the last 4 months. The gasoline index fell 4.9 percent in March after a 0.9-percent decrease in February. (Before seasonal adjustment, gasoline prices decreased 0.2 percent in March.) The index for natural gas also declined in March, falling 1.2 percent after rising 4.7 percent in February. The index for electricity was unchanged in March.

The energy index increased 7.0 percent over the past year, with all the major component indexes rising. The gasoline index increased 11.1 percent and the fuel oil index rose 20.0 percent. The electricity index increased 2.2 percent, and the index for natural gas advanced 3.4 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 0.4 percent, with the indexes for rent and owners' equivalent rent both rising 0.3 percent. The index for lodging away from home increased 2.3 percent in March after falling in January and being unchanged in February. The medical care index rose 0.4 percent, with the hospital services index rising 0.6 percent, the physicians' services index increasing 0.2 percent, but the index for prescription drugs declining 0.2 percent.

The personal care index increased 0.3 percent in March. The index for motor vehicle insurance continued to rise, increasing 0.3 percent. The airline fares index increased 0.6 percent, the same increase as in February. The indexes for alcoholic beverages and household furnishings and operations both increased 0.1 percent in March, while the indexes for new vehicles and for recreation were unchanged.

The apparel index fell 0.6 percent in March after rising in each of the two prior months. The index for communication declined 0.3 percent. The used cars and trucks index fell 0.3 percent in March, the same decline as in February. The indexes for education and for tobacco also declined in March.

The index for all items less food and energy rose 2.1 percent over the past 12 months, a higher figure than the 1.8-percent annual average increase over the past 10 years. The shelter index rose 3.3 percent over the last 12 months, a higher figure than the 2.2-percent average annual increase over the past decade. The index for medical care advanced 2.0 percent, a lower rate than the 2.9-percent average annual rate over the past 10 years.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.4 percent over the last 12 months to an index level of 249.554 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 2.4 percent over the last 12 months to an index level of 243.463 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 2.2 percent over the last 12 months. For the month, the index increased 0.2 percent on a not seasonally adjusted basis. Please note that the indexes for the past 10 to 12 months are subject to revision.