United States: Inflation picks up in March
April 15, 2014
In March, consumer prices increased 0.2% over the previous month in seasonally-adjusted terms, which followed the 0.1% rise in February. The increase, which came in just slightly above market expectations of a 0.1% rise, reflects that lower prices for energy, including gasoline, were more than offset by higher prices for food and shelter.
Annual inflation increased from 1.1% in February to 1.5% in March. The monthly core inflation index, which excludes food and energy prices, ticked up from 0.1% in January to 0.2% in March, beating market expectations of a 0.1% rise. Annual core inflation came in at 1.6% in March (February: +1.6%), while annual average core inflation held steady at February's 1.7%, the lowest level in more than two years.
FocusEconomics Consensus Forecast participants expect inflation to average 1.7% in 2014, which is down 0.2 percentage points from last month's forecast. For 2015, the panel expects average inflation to rise to 2.1%.