March 2019 Consumer Price Index

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The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 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 increased 1.9 percent before seasonal adjustment.

The energy index increased 3.5 percent in March, accounting for about 60 percent of the seasonally adjusted all items monthly increase. The gasoline index increased sharply, and the electricity index also rose, although the natural gas index declined. The food index also increased in March, with the indexes for food at home and food away from home both continuing to rise.

The index for all items less food and energy increased 0.1 percent in March, the same increase as in February. The indexes for shelter, medical care, new vehicles, recreation, education, and tobacco were among those that increased in March, while the indexes for apparel, used cars and trucks, and airline fares all declined.

The all items index increased 1.9 percent for the 12 months ending March, a larger increase than the 1.5-percent rise for the period ending February. The index for all items less food and energy rose 2.0 percent over the last 12 months. The food index rose 2.1 percent over the past year, its largest 12-month increase since the period ending March 2015, while the energy index declined 0.4 percent over the past year.

Seasonally adjusted changes from preceding month Un- adjusted 12-mos. Sep. Oct. Nov. Dec. Jan. Feb. Mar. ended 2018 2018 2018 2018 2019 2019 2019 Mar. 2019

Food

The food index rose 0.3 percent in March following a 0.4-percent increase in February. The index for food at home rose 0.4 percent in March, the same increase as the prior month. The index for fruits and vegetables rose 1.6 percent, with the index for fresh vegetables increasing 2.0 percent and the index for fresh fruits rising 1.2 percent. The dairy and related products index increased 0.6 percent, and the cereals and bakery products index rose 0.3 percent. The index for other food at home also increased in March, rising 0.1 percent.

The index for meats, poultry, fish, and eggs was the only major grocery store food group index to decline in March, falling 0.2 percent after rising 0.2 percent in February. The index for nonalcoholic beverages was unchanged in March after increasing in each of the prior 3 months.

The index for food away from home rose 0.2 percent in March after increasing 0.4 percent in February. The index for limited service meals rose 0.2 percent and the index for full service meals increased 0.1 percent.

The food at home index rose 1.4 percent over the last 12 months. Five of the six major grocery store food group indexes rose over the span, with the fruits and vegetables index posting the largest increase at 3.9 percent. The index for meats, poultry, fish, and eggs was the only one to decline, falling 0.2 percent over the last 12 months. The index for food away from home increased 3.0 percent over the past 12 months, with the index for limited service meals increasing 3.1 percent and the index for full service meals rising 2.8 percent.

Energy

The energy index rose 3.5 percent in March. The gasoline index rose 6.5 percent in March after increasing 1.5 percent in February. (Before seasonal adjustment, gasoline prices rose 9.0 percent in March.) The electricity index also increased in March, rising 0.4 percent after falling in January and February. The index for natural gas declined for the third month in a row, falling 0.1 percent in March.

Despite the increase in March, the energy index fell slightly over the last 12 months, declining 0.4 percent. The index for gasoline fell 0.7 percent, while the index for natural gas declined 1.4 percent. The electricity index, in contrast, increased 0.3 percent over the last 12 months.

All items less food and energy

The index for all items less food and energy increased 0.1 percent in March, the same monthly increase as in February. The shelter index continued to rise, increasing 0.4 percent. The index for rent rose 0.4 percent, while the index for owners’ equivalent rent increased 0.3 percent.

The medical care index, which declined in February, rose 0.3 percent in March. The index for prescription drugs increased 0.6 percent in March following a 1.0-percent decline in February. The index for hospital services also increased in March, rising 0.3 percent, but the index for physicians’ services declined, falling 0.4 percent.

The index for new vehicles increased 0.4 percent in March after declining in February. The recreation index rose 0.3 percent, and the education index advanced 0.5 percent. The index for tobacco increased 1.6 percent, its largest increase since April 2017.

In contrast, the index for apparel declined 1.9 percent in March after rising in February. The index for used cars and trucks fell for the second month in a row in March, declining 0.4 percent. The index for airline fares fell in March, decreasing 0.6 percent after rising in February. Also declining in March were the indexes for communication and for motor vehicle insurance.

The index for all items less food and energy rose 2.0 percent over the past 12 months, a slightly smaller increase than the 2.1-percent rise for the period ending February. The shelter index rose 3.4 percent over the span, and the medical care index increased 1.7 percent. The indexes for apparel, airline fares, and communication all declined for the 12 months ending March.

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.9 percent over the last 12 months to an index level of 254.202 (1982-84=100). For the month, the index increased 0.6 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.8 percent over the last 12 months to an index level of 247.768 (1982-84=100). For the month, the index increased 0.6 percent prior to seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.7 percent over the last 12 months. For the month, the index increased 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.