CPI inflation report March 2026:
CNBC • • business
Key Points:
- Consumer prices surged 0.9% in March, driven by a 10.9% increase in energy costs due to the Iran conflict, pushing annual inflation to 3.3%, the highest since April 2024.
- Core inflation, excluding food and energy, rose modestly by 0.2% for the month and 2.6% annually, indicating underlying inflation remains more controlled.
- Gasoline prices soared 21.2%, accounting for nearly three-quarters of the monthly inflation increase, though energy prices have since moderated following a U.S.-Iran cease-fire.
- The Federal Reserve is expected to look past the March energy-driven inflation spike and focus on underlying inflation trends, maintaining a patient stance on interest rate changes.
- Services and shelter costs showed moderate increases, while food prices remained steady; however, airline fares and apparel prices rose, reflecting some tariff and war-related impacts.
