Consumers paid 2.8% more in March 2012 than they did a year ago for the basket of goods and services included in the Consumer Price Index. This level of inflation increased from the 2.4% measured in February 2012.
Between February 2012 and March 2012, the average cost of goods and services in the Consumer Price Index rose 0.2%. The all-items index increased from 118.1 to 118.4 index points in March. This means that the basket of goods and services that cost $100.00 in April 2006 now cost $118.40
The Health & Personal Care sector continued to be the largest contributor to the twelve-month increase in the Consumer Price Index. This sector contains items suchas the cost of doctor’s visits, health insurance, prescribed & self-prescribed drugs and toiletries up 6.9% year-over-year.
The Food and Fuel & Power sectors also impacted strongly on the annual rate of inflation, advancing by 3.8% and 13.4%, respectively.
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