US CPI increases 0.6% in March

The US consumer price index increased 0.6% on a seasonally adjusted basis in March after rising 0.4% in February, according to the Bureau of Labor Statistics, marking the largest rise since a 0.6% jump in August 2012.

Over the last 12 months, the all-items index increased 2.6% before seasonal adjustment, a much larger increase than the 1.7% reported for February.

The gasoline index continued to rise, advancing 9.1% in March to account for almost half of the seasonally adjusted increase in the all-items index, while the natural gas index also rose, contributing to a 5.0% increase in the energy index over the month.

The food index rose 0.1%, with the food at home index and the food away from home index both also rising 0.1%.

The index for all items less food and energy rose 0.3% last month, while the shelter index increased in March as did the motor vehicle insurance index, the recreation index, and the household furnishings and operations index.

The apparel and education indices fell - down 0.3% and 0.2%, respectively.