The Consumer Price Index increased 0.5% March on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics, This is an annualized growth rate of 6%.
Leading prices higher were food and gasoline. The gasoline index posted its ninth consecutive increase
and has now risen 14.4% over the last three months. The food at home index continued to accelerate in March, rising 1.1% (a 13.2% annual rate) as all six major grocery store food groups increased.
The Richard Nixon inspired core price index rose 0.1% in March.
It should be noted that the annualized CPI rate of 6% in the United States is higher than the 12-month price inflation rate of 5.4% in China, which is causing China to take radical steps to fight their inflation.
Prices rise in India at a 9% annual rate. Russia at 9.5%. China near 5.5%. Brazil near 6%. The US is at 6%. The inflation fires are roaring world-wide.
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