Consumer prices rise across the board

Consumer prices rose by 0.3% in March, led by rising costs in energy, food and transportation, according to a report released today by the U.S. Department of Labor. Energy prices rose 1.9% that month, as gasoline prices increased by 1.3% and natural gases increased by 4.6%. Food prices, meanwhile, rose 0.2%, with beef prices rising by 0.6% and vegetables up 2%. Travel expenses, boosted by the rising cost of fuel, were similarly more expensive, with the cost of airline tickets jumping 3%. The largest decrease in prices was in clothing, falling 1.3% — a drop not experienced since September 1998 but not enough to counteract the increases seen in other categories. The increases in price came as core inflation, which is inflation excluding energy and food costs, grew by 0.2%. Over the past year, inflation has increased by 4%.