By Manuel Gutierrez, Consulting Economist to NKBA
This is the largest monthly gain in fifteen years as prices are now 8.5 percent above a year ago.

  • Only five times in the last 70 years have month-over-month prices risen faster.
  • Gasoline prices are up by 48 percent since last March, although household energy costs are just over 15 percent higher.
  • Excluding gasoline/energy costs, inflation is still 6.8 percent higher than year ago, with basics such as Food costing consumers 8.8 percent more this March over last.
  • Other large contributors to spiraling prices are used vehicles, which have posted a 35 percent gain over a year ago.
  • Closer to home, the average cost for all products and services used to run and maintain a house is up 6.4 percent in the past year, trailing overall inflation.
  • Major Appliances, including refrigerators and washers, are 12.4% higher than a year ago, while Small Appliances are up a more modest 5.7 percent.
  • Regionally, the South was hit hardest with an annual price increase of 9.1 percent, while the Northeast suffered the least, but was still up a considerable 7.3 percent.
The 1.2 percent gain in consumer prices for March is the highest in fifteen years