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


March Sees Consumer Prices Rise Amidst Energy Cost Surge, Yet Predominantly Positive Outlook Emerges

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

Women's college soccer team makes disturbing discovery in locker room ceiling

Women’s College Soccer Team Finds Disturbing Discovery in Locker Room Ceiling

An Ohio man was arrested after authorities said he secretly photographed members…
Iranian President Pezeshkian: 'We Will Keep Resisting — We Will Find Ways'

Iran’s President Pezeshkian Vows to Keep Resisting Pressure

In an interview broadcast Thursday on Fox News Channel’s “Special Report,” Iranian…
Nor’easter will slam parts of NYC-area with coastal flooding and wild winds this weekend: forecasters

Nor’easter to Slam NYC Area With Coastal Flooding, High Winds

A potent September nor’easter is expected to bring coastal flooding and damaging…
UC Santa Barbara students move back to homes on eroding California cliffs

UC Santa Barbara Students Return to Homes Perched on Eroding California Cliffs

Students at UC Santa Barbara are returning to homes perched atop a…
Ole Miss victims identified as narcotics task force probes two student deaths

Ole Miss Identifies Two Students Found Dead as Narcotics Task Force Investigates

OXFORD, Miss. — The two University of Mississippi students whose deaths were…
Melania Trump’s home-country leader rips UN ‘double standards’ as Trump promise is revealed

Slovenian Leader Criticizes UN ‘Double Standards’ as Trump Promise Emerges

Slovenian Prime Minister Janez Janša accused the United Nations of applying double…
UMass Dartmouth football murder suspect overstayed tourist visa, received deferred action: federal sources

UMass Dartmouth Football Murder Suspect Overstayed Visa

A Nigerian national accused of fatally stabbing a UMass Dartmouth football player…
Medal of Honor heroes take sides as Trump's Army secretary decision becomes Pentagon 'knife fight'

Medal of Honor Heroes Clash Over Trump’s Army Secretary Pick

WASHINGTON — Some of the nation’s war heroes are taking the unusual…
Iowa teacher, 10-year-old student die during fifth-grade school field trip at Lake MacBride State Park

Iowa Teacher and 10-Year-Old Student Die on Lake MacBride Field Trip

A fifth-grade field trip at Lake MacBride State Park ended in tragedy…
Long Island 'Catman' John DeBacker rescues pet trapped upside down for five days

Long Island Cat Rescuer Saves Pet Trapped Upside Down for 5 Days

John DeBacker does not wear a mask or cape, but to one…
NYC Episcopal priest Flourish Klink claims Jesus is trans and God is nonbinary

Episcopal Priest Flourish Klink Claims Jesus Is Trans, God Nonbinary

A New York City Episcopal priest has sparked controversy after declaring in…
Iranian president blames US for Middle East conflict while denying nuclear ambitions, offers to dilute uranium

Iranian President Blames US for Middle East Conflict, Denies Nuclear Ambitions and Offers to Dilute Uranium

Iranian President Masoud Pezeshkian said Thursday that Tehran has no interest in…