The Consumer Price Index for March showed an overall 0.6 percent increase, with costs rising across the board, according to a report released by the Department of Labor.
The most dramatic change came in the form of increased energy costs. If prices continue to rise at the February-March rate, inflation for the year will be at 4.3 percent.
Energy costs, which account for an estimated 8.6 percent of a consumer?s budget, increased 1.3 percent over the past month. In January, the index showed a 5 percent increase in energy costs, before falling 1.2 percent in February.
Energy costs have fluctuated over the last seven months, rising at a seasonally adjusted rate of 6.7 percent between September 2005 and March 2006. Over the same time period, the index as a whole increased only 1.9 percent.
Consumers were hit by higher fuel prices in March, when the CPI showed that costs increased 3.6 percent. Household fuel costs, however, showed a decline in March, down 1 percent from February.
In the past 12 months, the indexes for natural gas and electricity have risen 21.9 percent and 14.9 percent, respectively.
Increased costs for apparel and shelter accounted for 70 percent of March?s price increase. The indexes for rent and away-from-home lodging made up the bulk of the increase in shelter prices. Apparel costs were affected by the introduction of spring and summer clothing lines, with the costs of women?s apparel rising 9.1 percent.
