CPI Report: First Inflation Print Since Beginning Of Iran War Shows Consumer Prices Rise In Line With Expectations

U.S. consumer prices rose in line with expectations in March in the first inflation print since the beginning of the Iran war, according to the Consumer Price Index (CPI) report released on Friday.

According to data from the Bureau of Labor Statistics (BLS), on a seasonally adjusted basis, CPI rose 0.9% in March, after rising 0.3% in February.

This puts the annual rate at 3.3% before the seasonal adjustment.

Core CPI, which excludes food and energy, showed a 0.2% increase in March, slightly lower than a Dow Jones estimate, according to MarketWatch data.

On an annual basis, core CPI stood at 2.6%, below Wall Street expectations. The headline and core inflation are still above the Federal Reserve’s long-term target of 2%.

Energy Costs Soar

Soaring energy costs drove the rise in headline inflation, with the energy index rising 10.9% in March. Gasoline index surged 21.2% during the month, contributing to a three-quarter increase in the headline prices, the BLS report stated.

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