April 2023
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 percent in March on a seasonally adjusted basis, after increasing 0.4 percent in February, the U.S. Bureau of Labor Statistics reported. The index for shelter was by far the largest contributor to the monthly all items increase. This more than offset a decline in the energy index, which decreased 3.5 percent as all major energy component indices declined. The food index was unchanged with the food at home index falling 0.3 percent. The index for all items less food and energy rose 0.4 percent in March, after rising 0.5 percent in February. Indices which increased in March include shelter, motor vehicle insurance, airline fares, household furnishings and operations, and new vehicles. The index for medical care and the index for used cars and trucks were among those that decreased.
The all items index increased 5.0 percent for the 12 months ending March; this was the smallest 12-month increase since the period ending May 2021. The all items less food and energy index rose 5.6 percent. The energy index decreased 6.4 percent, and the food index increased 8.5 percent.
