Consumer prices rise more than expected, pushed by 9.1% jump in gasoline
Published Tue, Apr 13 20218:30 AM EDTUpdated Tue, Apr 13 202110:03 AM EDT
Jeff Cox
@Jeff.cox.7528
@JeffCoxCNBCcom
The consumer price index rose 0.6% in March from the previous month and 2.6% from a year ago, according to the Department of Labor.
That compares to Dow Jones estimates of 0.5% and 2.5% respectively.
A surge in gasoline prices accounted for about half the gain amid signs of an accelerating economic recovery.
Consumer prices shot higher in March, given a boost by a strong economic recovery and year-over-year comparisons to a time when the Covid-19 pandemic was about to throttle the U.S. economy, the Labor Department reported Tuesday.
The consumer price index rose 0.6% from the previous month but 2.6% from the same period a year ago. The year-over-year gain is the highest since August 2018 and was well above the 1.7% recorded in February.
The index was projected to rise 0.5% on a monthly basis and 2.5% from March 2020, according to Dow Jones estimates.
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https://www.cnbc.com/2021/04/13/us-consumer-price-index-march-2021.html
