Despite the 'very hot' overall figure, market analyst Adam Crisaffuli of Vital Knowledge Media pointed out the report also showed moderating inflation in some recently spiking categories, with the price of used cars and trucks falling 3.8% month over month
released Tuesday by the Labor Department, climbing at the quickest pace in four decades following an unprecedented surge in gas prices last month spurred by Russia’s invasion of Ukraine.... [+]Overall prices rose 1.2% from February—higher than the 1.1% economists were expecting and the previous month’s increase of 0.8%.
The overall increase was the result of broad gains across gasoline, shelter and food prices, the government said, pointing out a 18.3% monthly increase in the price of gas accounted for over half of the overall increase.
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