The consumer price index release for March was expected to be the first to show the impact of the conflict in Iran. As expected, energy price increases impacted the headline number, which was .9% increase month-over-month and 3.3% year-over-year. Food prices were unchanged for the month and the index without energy and food rose only .2%. Housing cost increases have clearly slowed over the last few months, but still rose .3% in March. Service cost growth was low. Drug and medical care prices declined. Clothing, household furnishings and education prices rose. The bad news was that wages rose more slowly than prices. The next few months are likely to be volatile until the Iran and energy situation completely settles. (BLS Release)
