Inflation report March 2024: Consumer prices accelerated in March to 3.5%
Inflation remained elevated once again in March, adding another round of price increases to Americans' already-strained wallets.
Inflation remained elevated once again in March, adding another round of price increases to Americans' already-strained wallets.
The Bureau of Labor Statistics reported that 12-month price growth accelerated from 3.2% in February to 3.5% in March, matching consensus forecasts among economists.
Excluding food and energy, which represent commodities with more volatile prices, the so-called core 12-month reading was unchanged in March at 3.8%.
If there was any relief, it was in grocery prices, which were up just 1.2% on the year.Justin Sullivan / Getty ImagesSome of the items seeing the largest 12-month leaps in price gains included auto insurance, which soared 22.2%; domestic services like home cleaning, up 10.9%; baby food and formula, up 9.9%; and outpatient hospital services, up 8.3%.
If there was any relief, it was in grocery prices, which were up just 1.2% on the year. And prices for new and used vehicles fell.
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