United States Inflation

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United States: Annual consumer prices re-enter deflationary territory in March

April 17, 2015

In March, consumer prices increased 0.2% over the previous month in seasonally-adjusted terms. The print matched February’s result and was in line with market expectations. March’s reading was driven by an increase in energy prices, including gasoline.

Annual consumer prices fell 0.1% in March, which was down from the flat reading seen in February, and therefore reentered deflationary territory. Meanwhile, core consumer prices, which exclude food and energy prices, increased 0.2% over the previous month for the third straight month. The figure was just above market expectations of a 0.1% increase. Annual average core inflation in March held at February’s 1.8%.

FocusEconomics Consensus Forecast participants expect inflation to average 1.3% in 2015, which is down 0.4 percentage points from last month’s forecast. For 2016, the panel expects inflation to average 2.2%.


Author:, Economist

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USA Inflation March 2015

Note: Year-on-year and month-on-month variation of seasonally-adjusted consumer price index in %.
Source: Bureau of Labor Statistics.


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