Credit: Woman shopping at a produce section in the supermarket — Andrew Kelly - Reuters / stock.adobe.com
(RTTNews) - Largely reflecting continued growth in prices for shelter and gasoline, the Labor Department released a report on Wednesday showing U.S. consumer prices advanced by slightly more than expected in the month of March.
The Labor Department said consumer prices climbed by 0.4 percent in March, matching the increase seen in February. Economists had expected consumer prices to rise by 0.3 percent.
Excluding prices for food and energy, core consumer prices still rose by 0.4 percent for the third consecutive month. Core consumer prices were also expected to increase by 0.3 percent.
The report also said the annual rate of consumer price growth accelerated to 3.5 percent in March from 3.2 percent in February. Economists had expected a more modest acceleration to 3.4 percent.
Meanwhile, the annual rate of core consumer price growth came in at 3.8 percent in March, unchanged from February. Core price growth was expected to slow to 3.7 percent.
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