A look at consumer prices in March, by the numbers
Gas prices are seen at a gas station in Riverwoods, Ill., Monday, April 1, 2024. On Wednesday, April 10, 2024, the Labor Department issues its report on inflation at the consumer level in March. (AP Photo/Nam Y. Huh)
NEW YORK (AP) — Consumer inflation rose more than expected in March, boosted by gas, rents, auto insurance and other items, the government said Wednesday. A look at some of the numbers. (Figures from the Bureau of Labor statistics, unless otherwise specified.)
3.8%
The increase in the so-called core inflation rate from March 2023 to March 2024. This measure strips out the more volatile energy and food prices.
22.2%
The rise in the price of car insurance from March a year ago. More expensive car repairs and an increase in disaster-related claims are among the reasons for the increase.
1.2%
Year-over-year rise in the cost of groceries. The increases have moderated from the spikes of 2022 and early 2023.
$5.42
Price for a pound of uncooked ground beef, up more than 20 cents from February.
$2.99
The average cost of a dozen Grade A eggs in March. While that’s down from $3.45 a year ago, it’s up from $2.05 in March 2022.
5.7%
The year-over-year increase in the cost of shelter, mostly housing. Shelter costs are heavily weighted in the month consumer price index.
-2.2%
The decline in the average price of used cars and trucks last month. Those prices soared early in the pandemic because of a shortage of parts needed to build new vehicles.
$3.58
The price in March for a gallon of unleaded regular gasoline. That’s up 22 cents from February, but is still down about 73 cents from March 2022.
-7.1%
Air travel is one category seeing price declines. The cost of hotel rooms and car rentals have also fallen from a year ago.
5.5%
The rise in the cost of a funeral in March compared to a year ago. In December, the National Funeral Directors Association estimated the median price of a funeral with casket and burial rose from $7,850 to $8,300 from 2021 to 2023.