Consumer Price Index: Inflation Dropped 0.3%

May 19, 2016

Consumers paid 1% more in March 2016 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI], and the level of inflation dropped 0.3 percentage points from the 1.3% measured in February 2016.

The Consumer Price Index report said, “Between February 2016 and March 2016, the average cost of goods and services in the CPI fell by 0.1%. The all-items index dropped to 100.1 in March. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $100.10.

“The Fuel & Power sector continued to have a strong impact in the overall inflation rate, dropping 7.6% year-over-year. The major driver in this sector was the lower cost of electricity.

“In contrast, the Health & Personal Care sector and the Food sector both increased year-over-year. These sectors increased 7.1% and 2.0%, respectively.”

The full March 2016 Consumer Price Index follows below [PDF here]:

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