US Inflation Rises in March 2022: Here's the Breakdown

Economics & Macro

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Viva Budy Kusnandar 13/04/2022 11:00 WIB

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In March 2022, US inflation rose by 1.2% (month-on-month) compared to the previous month. However, compared to March 2021, US inflation growth reached 8.5% (year-on-year).

U.S. Inflation Growth by Category (March 2022)

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U.S. Inflation Growth by Category (March 2022)

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The United States Department of Labor reported in March 2022 that US inflation rose by 1.2% (month-to-month/m-to-m) compared to February 2022.

However, compared to March 2021, US inflation growth reached 8.5% (year-on-year/yoy).

Soaring food prices fueled US food inflation of 1% in March 2022 compared to the previous month (m-to-m) or 8.8% compared to the previous year (yoy).

This food inflation consisted of a 1.5% (m-to-m) or 10% (yoy) increase in home food inflation, and 0.3% (m-to-m) or 6.9% (yoy) in away-from-home food inflation.

US energy inflation in March this year was 11% (m-to-m) or 32% (yoy). This comprised energy commodity inflation of 18.1% (m-to-m) or 48.3% (yoy), and energy services inflation of 1.8% (m-to-m) or 13.5% (yoy).

Further detailed, US energy price inflation for all types of gasoline reached 18.3% (m-to-m) or 48% (yoy), while diesel fuel inflation reached 22.3% (m-to-m) or 70.1% (yoy) in March 2022.

Excluding food and energy, core US inflation in March 2022 reached 0.3% (m-to-m) or 6.5% (yoy).

New vehicle inflation in the US also experienced inflation of 0.2% (m-to-m) and 12.5% (yoy) in March 2022. For used cars, a monthly deflation of 3.8% (m-to-m) was observed, while yearly inflation reached 35.3% (yoy).

(Also Read: To Control Inflation, The Fed Raises the Benchmark Interest Rate by 25 Bps)

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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US Inflation Rises in March 2022: Here's the Breakdown

US Inflation Rises in March 2022: Here's the Breakdown

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US Inflation Rises in March 2022: Here's the Breakdown

US Inflation Rises in March 2022: Here's the Breakdown

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