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%.
Author: Carl Kelly, Economist