Financial News: U.S. Consumer Price Increase 0.9% In March, Annual

U.S. Consumer Price Increase 0.9% In March, Annual Growth Surges To 3.3%

04/10/2026 - 09:35:00 (RTTNews)

(RTTNews) - Consumer prices in the U.S. increased in line with economist estimates in the month of March, according to a report released by the Labor Department on Friday.

The Labor Department said its consumer price index jumped by 0.9 percent in March after rising by 0.3 percent in February. Economists had expected consumer prices to advance by 0.9 percent.

The report also said the annual rate of growth by consumer prices accelerated to 3.3 percent in March from 2.4 in February, which also matched expectations.

"March core CPI doesn't yet reflect the reality of the oil supply shock, where the effect on real wage growth will bear the full brunt in April," said Jamie Cox, Managing Partner for Harris Financial Group.

He added, "While I'm glad to see the effects to be less than expected in March, the effects in April are now more likely to be worse."

The notable monthly increase in consumer prices largely reflected a spike in energy prices, which soared by 10.9 percent amid the war in the Middle East. Gasoline prices skyrocketed by 21.2 percent.

Energy prices were up by 12.5 percent compared to the same month a year ago, with gasoline prices up by 18.9 percent.

Excluding food and energy prices, core consumer prices rose by 0.2 in March, matching the uptick seen in February. Core prices were expected to rise by 0.3 percent.

The annual rate of growth by core consumer prices ticked up to 2.6 percent in March from 2.5 percent in February, coming in slightly below the 2.7 percent economists had expected.

The modest monthly increase in core consumer prices partly reflected a continued surge in prices for apparel, which shot up by 1.0 percent in March after jumping by 1.3 percent in February.

Prices for airline fares, household furnishings and operations, education and new vehicles also grew, while prices for medical care, personal care and used cars and trucks decreased.

Next Tuesday, the Labor Department is scheduled to release a separate report on producer price inflation in the month of March.

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