Consumer Prices Reportedly Rose in March Over Soaring Energy Costs, but It's Mostly Good News


There are instances when predictable news is actually welcome, as it was on Friday morning with the release of March’s Consumer Price Index (CPI) report. This data, compiled by the Bureau of Labor Statistics, aligned closely with expectations, offering little in the way of surprise.

The headline-grabbing aspect of the report was the significant impact of energy prices, which soared by 10.9 percent, contributing largely to a 3.3 percent rise over the past year and a 0.9 percent increase from February’s figures. However, when energy and food prices were excluded to calculate the core CPI, the increase was a modest 0.2 percent, with prices in some consumer sectors even showing a decline.

For a deeper understanding, it’s worth noting that CNBC described the current inflation scenario as “relatively tame,” despite the energy price surge. This spike in energy costs was primarily due to a temporary rise in gas prices, which occurred before a ceasefire was declared in the Iran conflict in recent days.

We’ll delve more into vehicle prices shortly, but this context provides a clearer picture of the broader economic landscape as detailed in the latest BLS report.

The consumer price index increased a seasonally adjusted 0.9% for the month, putting the annual inflation rate at 3.3%, pushed by a 10.9% surge in energy costs. Both numbers were in line with the Dow Jones consensus. The annual rate was the highest since April 2024 and up from 2.4% in February.

However, excluding food and energy, core prices rose much less – just 0.2% for the month and 2.6% from a year ago, both 0.1 percentage point below forecast, indicating that underlying inflation was contained. There even were even pockets of outright price declines, as medical care, personal care, and used cars and trucks all fell during the month.

More on the vehicle prices in a minute. The CNBC report linked above even characterized the current inflation picture as “relatively tame.”

And how did the energy spike happen, according to the BLS report? Mostly high gas prices, which were temporarily up before the ceasefire was called in the Iran conflict over the past few days.

The Iran conflict was the story for the monthly inflation reading, as gasoline soared 21.2%, accounting for nearly three-quarters of the headline price increase.

The Trump administration echoes analysts, as the above clip/reporting shows, in pointing out that there’s good news, too, with grocery prices continuing to moderate. That was National Economic Council Dir. Kevin Hassett’s main message, when he appeared on Fox News on Friday afternoon:

American consumers, in any case, don’t seem too spooked by the report, if another CNBC story aired after the news on the consumer price index report is accurate. One analyst on the panel notes that many people are using their 2025 tax refunds… to buy their families a new or used car/truck.

This is a developing story, RedState will provide more information as updates become available.

Editor’s Note: President Trump is leading America into the “Golden Age” as Democrats try desperately to stop it.  

Please help us continue to report on President Trump’s successes. Join RedState VIP and use promo code FIGHT to get 60% off your membership.

You May Also Like
'Crazy Rich Asians' author Kevin Kwan reveals his American dream

Kevin Kwan of ‘Crazy Rich Asians’ Shares His Vision of the American Dream

As part of a special series leading up to July 4, The…
Netflix series hunts for actors with upstate New York accent

Netflix Casting Call: Seeking Authentic Upstate New York Accents for Upcoming Series

A fresh series from Netflix is in the works, featuring Maya Hawke…
Mackenzie Shirilla boasted about sickening prison nickname after she killed 2 people in crash, jailhouse lover reveals

Mackenzie Shirilla’s Disturbing Prison Nickname Uncovered by Jailhouse Lover Following Deadly Crash Conviction

Mackenzie Shirilla, infamously known as the “Hell on Wheels” murderer, has apparently…
A World War II veteran had no one left to bury him. Then 1,500 strangers showed up.

Lonely WWII Veteran Honored by 1,500 Strangers at Heartwarming Farewell Ceremony

John Bernard Arnold III experienced loss early in life, losing his mother…
Killer executes man washing clothes with wife at NYC laundromat

Tragic Shooting at NYC Laundromat Claims Life of Man Doing Laundry with Wife

In a shocking incident on Monday morning, a man was fatally shot…
Anti-ICE protesters clash with agents outside New Jersey detention center as Gov Sherrill denied entry

Intense Showdown: Anti-ICE Demonstrators Confront Agents at New Jersey Detention Center Amid Governor’s Blocked Visit

On Monday, tensions flared as demonstrators and law enforcement faced off outside…
Pope Leo warns AI risks becoming tool of 'domination, exclusion and death' in new encyclical

Pope Leo’s Urgent Encyclical: Uncovering the Perils of AI as a Tool for Global Control

Pope Leo has introduced a groundbreaking encyclical titled “Magnifica Humanitas,” cautioning that…
Yosemite National Park's reservation system ends, leading to 'chaos' in park over Memorial Day weekend

Yosemite Faces Memorial Day Mayhem as Reservation System Ends, Sparking Park Overcrowding Concerns

Yosemite National Park, located in California, is experiencing significant congestion as it…
Mom kills her two kids in shocking murder-suicide after shooting woman with her husband at a bar

Tragic Murder-Suicide: Mother Fatally Shoots Children and Involved in Bar Incident with Husband

In a deeply disturbing turn of events in Arizona, a mother fatally…
Ceremonies, parades across Chicago area marking Memorial Day, including in Naperville, Arlington Heights, Aurora

Chicago Area Commemorates Memorial Day with Ceremonies and Parades in Naperville, Arlington Heights, Aurora

CHICAGO (WLS) — Across the Chicago area, numerous ceremonies and parades are…
Gold Star Wife Asked for Photos of Her Husband's Arlington Cemetery Grave — and Then the Magic Happened

Heartfelt Tribute: A Gold Star Wife’s Request for Arlington Cemetery Photos Unleashes an Emotional Chain of Events

On Monday, in a heartfelt Morning Minute column, our Deputy Managing Editor…
Rays' Wander Franco found criminally responsible for abusing minor, avoids jail time in Domincan Republic

Wander Franco Faces Legal Consequences for Minor Abuse, Escapes Jail Time in Dominican Republic

Tampa Bay Rays shortstop Wander Franco was found criminally liable for sexually…