US: CPI inflation up 0.9% month-on-month in March, up 3.3% year-on-year

Milan, 10 April (LaPresse) – In March, the US Consumer Price Index rose by 0.9% month-on-month and by 3.3% year-on-year. This was reported by the US Bureau of Labour Statistics. The energy price index rose by 10.9% in March, driven by a 21.2% increase in the petrol price index, which accounted for almost three-quarters of the overall monthly rise. The housing price index also rose, by 0.3%. The food index, however, remained unchanged over the month. Excluding food and energy, inflation rose by 0.2% in March. Among the indices that recorded the largest increases over the month were airfares, clothing, furniture and household goods, education and new vehicles. Conversely, the indices for healthcare, personal care, and used cars and lorries were among the main indices to fall in March. This is the largest monthly rise in inflation since June 2022, a clear effect of the outbreak of war in Iran and its repercussions on energy markets. Consequently, the rise in inflation will almost certainly lead the Federal Reserve to postpone any interest rate cuts for several months.