US CPI-U rises 0.4%, apparel index up 0.7% in March

US’consumer price index for all urban consumers (CPI-U) rose by 0.4 per cent in March 2024 on a seasonally adjusted basis, according to the US Bureau of Labor Statistics. This increase mirrors the rise seen in February. The index for apparel saw a significant rise of 0.7 per cent over the month. When compared year-on-year with March 2023, the apparel index increased by 0.4 per cent, indicating a steady climb in clothing prices.

The index for all items excluding food and energy also rose by 0.4 per cent in March, consistent with the increases observed in the two preceding months.

Furthermore, the all items index recorded a 3.5 per cent rise for the 12 months ending in March, outpacing the 3.2-per cent increase for the 12 months ending in February. The index for all items less food and energy rose by 3.8 per cent over the last 12 months, as per the bureau.

Additionally, the energy index reported a 2.1 per cent increase for the 12 months ending in March. This marks the first time the energy index has seen a 12-month increase since the period ending in February 2023.