United States Core Inflation Rate

The annual core consumer price inflation rate in the United States, which excludes volatile items such as food and energy, stood at a near three-year low of 3.8% in March 2024, matching February's reading and slightly above market forecasts of 3.7%. The shelter index increased 5.7%, accounting for over sixty percent of the total 12-month increase in all items less food and energy index, the same rate as in February. Other indexes with notable increases over the last year include motor vehicle insurance (+22.2%), medical care (+2.2%), recreation (+1.8%), and personal care (+4.2%). Monthly, core consumer prices rose by 0.4% in March, the same as in the previous two months and above market expectations of 0.3%.