WASHINGTON - The consumer price index increased 0.1% on a seasonally adjusted basis in March, in line with economists estimates, as year-over-year core inflation was the lowest in six years, the Labor Department reported today.
Core prices, excluding food and energy costs, were unchanged in March following an unrevised 0.1% core increase in February. For the year ending in March, core prices increased 1.1%, the smallest increase since January 2004.
Economists expected headline and core CPI to each increase 0.1%, according to the median estimate from Thomson Reuters.
February's CPI was unchanged from January. Headline CPI increased 2.3% for the year ending in March.
The index for energy was unchanged in March. Gasoline prices fell 0.8%.
The fresh fruit and vegetables index rose 4.6% in March and accounted for more than 60% of the total CPI gain.
Real average hourly earnings for all employees fell at a seasonally adjusted 0.2% in March.
