Inflation in March was a scorcher. Here are some month-over-month and year-over-year charts.
The BLS reports the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent on a seasonally adjusted basis in March, after rising 0.3 percent in February. Over the last 12 months, the all items index increased 3.3 percent before seasonal adjustment.
The BLS rounds to 1 decimal point. I show 2 decimal places
CPI Month-Over-Month
- All Items: 0.87 percent
- All Items Excluding Food and Energy: 0.20 percent
- Food and Beverage: 0.01 percent
- Shelter: 0.27 percent
- Owners’ Equivalent Rent: 0.28
- Rent of Primary Residence: 0.19
- Medical Care: -0.16 percent
- Medical Care Services: 0.01 percent
- Medical Care Commodities: -0.98 percent
- Energy: 10.87 percent
- Gasoline: 21.23 percent
- Food at Home: -0.16 percent
- Food Away from Home: 0.24
This was a disaster other than medical care and food at home, assuming you believe those.
I believe food at home. There were huge sales on beef where I shop. Your results may vary.
CPI Month-Over-Month Energy, Gasoline, Utilities
Energy, Gasoline, Utilities and Fuel Month-Over-Month
- Energy: 10.87 percent
- Gasoline: 21.23 percent
- Utilities and Fuel: 1.01
CPI Year-Over-Year Percent Change Major Categories
CPI Year-Over-Year Percent Change Major Categories
- All Items: 3.3 percent
- All Items Excluding Food and Energy: 2.6 percent
- Food and Beverage: 2.6 percent (13.69 percent of CPI)
- Shelter: 3.0 percent (35.55 percent of CPI)
- Medical Care Services: 3.7 percent (6.96 percent of CPI)
- Utilities and Fuel: 5.6 percent
- Energy: 12.5 percent (6.4 percent) of CPI
CPI Year-Over-Year Select Components
CPI Year-Over-Year Percent Select Categories
- All Items: 3.3 percent
- Medical Care Services: 3.7 percent
- Utilities and Fuel: 5.6 percent
- Energy: 12.5 percent of CPI
- Gasoline: 18.9 percent of CPI
Inflation Report Widely Expected
Q: How do we know that?
A: Yield on the long bond has hardly budged for days, even during the peace talk lovefest in all the other markets.
Silence Is Golden
There are no Truth Social posts by Trump on the inflation disaster he created.
Don’t worry. It’s a small price to pay for giving Iran control of the strait.
Wait! What?
Well, it’s a good thing Iran has no cards.
Truth Social: The Iranians don’t seem to realize they have no cards, other than a short term extortion of the World by using International Waterways. The only reason they are alive today is to negotiate! President DONALD J. TRUMP
I’m sure glad for that. Imagine if Iran had cards.
But who was it that put those “short term” cards in Iran’s pocket and shut down nearly all traffic in the strait?
Powerful Reset
Truth Social: WORLD’S MOST POWERFUL RESET!!! President DJT
On occasion, usually by accident, Trump manages to tell the truth.
Giving Iran control of the strait while it collects tolls paid in cyrpto and yuan, coupled with punishing everyone with asinine tariffs, was indeed the most powerful (but stupid) global reset combination in decades.
Reader Comment Yesterday
A reader asked “Did you post articles like this during the Biden Administration?” He sarcastically added “I’m sure you did”.
Well, yes, I did.
I replied Why don’t you search my blog for “Biden Inflation” without the quotes and see for yourself.
There was no reply back, confirming what I expected was a troll question.
Related Posts
April 9, 2026: Inflation Has Been Above the Fed’s Target for 5 Straight Years
The Fed’s preferred measure of inflation has been above 2 percent since March of 2021.
On March 17, 2026 I noted Six Rules Suggest the Fed Should Not Be Cutting Interest Rates
Nothing changed for the better today.
Finally, on March 30, 2026, I noted Powell Warns the Markets and Trump that His Patience with Inflation Has Limits
Powell’s speech was to Harvard students but read between the lines.
Powell’s warning was aimed straight at Trump.
But when year-over year inflation surges for at least two more months, what will he will do about it?
0.9 percent month-on-month is 11.4 percent annualized inflation. That’s quite an “achievement” for Trump.
This comes on top of getting bamboozled by Netanyahu into a war that resulted in: an odious Iranian regime that is now more entrenched than before; the Iranians can strangle the global economy at will; and the Iranians will now almost certainly build a bomb.
Well done Mr. President, and thank you for your attention to this matter!
This is just the beginning. Trump has plunged the world into absolute chaos. Most Americans are not prepared for the hardships that will soon be thrust upon them. Stock up on essentials.
For wealthy they had access to free money from 2008 onwards and the dilution of the dollar system means nothing. Your government and the crooks that own them just ruined your life
if it is supply shock inflation it is going to be much harder for the Fed to do much about it.
interest rates will continue to rise, inflation will continue to rise. I would plan accordingly
0.9%….Lolz….You ain’t seen nothin’ yet
https://www.youtube.com/watch?v=7miRCLeFSJo
But the core CPI is tame, so it’s transitory (Janet Yellen) “nothing to worry about.”
Effing elite idiots….when the tax dummies buy all your needs, how would anyone know what’s going on? Grrrrr
Last weekend was the trailer for the “Hiding Private Epstein” movie.
Clearly I’ve been bringing the wrong food at home.
There are great savings to be had in the pet food isle.
Epstein isle?
Lets bring back the catfood commission! (un)chained cpi to the rescue. No inflation to see here!
Trump truths ‘truths’ on Truth Social.
How absolutely clowneque can things be?
Thousands of journalists and media around the globe keep dishing up and discussing all the ins and outs of this meaningless gibberish.
Hyperinflation had already taken place in the world of discourse.
I drive less and less each week
“Transitory…”
An astute observation Janet.
Thank you. ggg
I don’t see how, after April prints, YoY inflation falls below the current 3.4 for the next 12 months barring some m/m prints below .2. Fed surely can’t move lower, they may move higher. And I’ll read the same taco-controlled fed blah blah blah comments while rates (or prices, the war, the tariff decisions, etc) don’t go the way he wants. And as more and more folks find themselves in the fixed income group the inflation looks harder in day to day life.
N-gDp @ 4.9%. Implicit price deflator @ 3.7%. We have stagflation, business stagnation accompanied by inflation.
The fix is easy. Drain reserves while driving the banks out of the savings business.
The 1966 Interest Rate Adjustment Act is the paradigm.
University of Michigan survey of consumers
“Opinions on Government Economic Policy”
Lowest ever since the 1970’s
Down 10 points in the last year to 40
Running the country like (his) business
Couldn’t resist.
https://media.licdn.com/dms/image/v2/D4E22AQE4KetUlNDvnA/feedshare-shrink_2048_1536/B4EZ1yXpnAGkAg-/0/1775740296019?e=1777507200&v=beta&t=j7HbEI0qA91MRjeftfYfFIVnRD2Z6poVQ8Lh8OAhEHE
I agree on all fronts, total disaster but expected as much from this clown administration. I loaded up on beef cuts and filled my freezer, the prices seemed like a “bargain” only because beef prices have been so high for so long that any “sale” is welcomed. I do think food prices will explode over the next few months.
Obviously not factored in the latest report is $100 oil moving forward and then there’s what the clown administration may do next.
By the way, anyone keeping an eye on bonds? 10, 20, 30 no looky good for borrowers.
https://www.cnbc.com/bonds/
Do worry, Trump will find a way to make things even worse.™
Wait until the spikes in fuel and fertilizer prices trickle down to food prices.
Like 6-9 months on the fertilizer, but we’ll see. As a fertilizer investor, it is 100% coming, as in 100%+ increases in nitrogen already in the last 4 months.
One really has a appreciate this “taco” economy.
What is the betting line as to how long taco lasts?
I’ll bet until January 2029 if you have an amount in mind.
Kalshi has a few question to wager on. Will he be impeached before 2027 or 2028. Will ANY republican in Congress call for the 25th? Will any of the cabinet be impeached? There’s lots of timelines for these as well. I have a few bucks down for chuckles…