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Energy prices surged nearly 11 percent in March, contributing 0.7 of the 0.9 percentage point increase in overall inflation. Ben Casselman reports that gasoline prices alone increased by more than 20 percent, highlighting the major role of fuel costs in driving recent price growth.
These figures point to energy as a significant factor in recent U.S. inflation figures, with gasoline making a particularly notable impact last month.
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Casselman has previously noted issues with the CPI legal services index, which has not published consistently since early 2023. In a separate report, he found that a data source change reduced January PCE inflation and raised disclosure concerns. These episodes have drawn attention to data quality and transparency in recent inflation reporting.