On Wednesday, April 12th, the U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers rose 0.1% in March, after increasing 0.4% in February, and that over the last 12 months, the All Items index increased 5.0%.
Unpacking the CPI data shows that the index for shelter was by far the largest contributor to the increase, which more than offset a decline in the energy component, which decreased 3.5% over the month. Further, the food index was unchanged in March, but there were still some big price increases to food.
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