A fuel nozzle is out of its holster at a gas station open for business on Monday, March 30, 2026 in New York City. The consumer price index for gasoline increased by 21.2% in March, the U.S. Bureau of Labor Statistics reported Friday. Photo by John Angelillo/UPI | License Photo
The consumer price index increased as expected in March in response to the war in Iran, the U.S. Bureau of Labor Statistics reported Friday.
Consumer prices for all consumers went up 0.9% for the month on a seasonally adjusted basis, an acceleration over the 0.3% rate in February. That brought the rate for the 12 months ending in March to 3.3%.
Prices increased by 2.4% for the year ending in February, closer to the Federal Reserve’s target 2% rate of inflation.
March’s annual index increase is the largest since April 2024.
Energy prices were a driving factor in the increase, jumping up 10.9%, in line with the Dow Jones consensus estimate. Within energy, the index for gasoline increased by 21.2%. Friday’s report said this accounted for “nearly three quarters of the monthly all items increase.”
Shelter’s index also ticked up 0.3% while the index for food was unchanged. Fruits and vegetables did see an increase, rising by 1%.
Food prices rose 0.4% in February.
When excluding the volatile categories food and energy, price indexes increased about 0.2% in March and 2.6% over the year prior.
Among the items excluding food and energy that experienced increases were airline fares, up 2.7%, and apparel, up 1%, both on a monthly basis.
This week in Washington
Secretary of Defense Pete Hegseth speaks during a press briefing at the Pentagon on Wednesday. Yesterday, the United States and Iran agreed to a two-week ceasefire, with the U.S. suspending bombing in Iran for two weeks if the country reopens the Straight of Hormuz. Photo by Bonnie Cash/UPI | License Photo
