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Inflation Index Rises Amid High Food Prices Ahead of Trump Tariff Impact
By Prathapan Bhaskaran - Apr 12, 2025, 02:34 PM ET
Last Updated - Apr 12, 2025, 02:59 PM EDT
Cost of food at home and food outside along with natural gas and electricity prices offset fall in fuel price
The stability of a key U.S. inflation index in March contrasts with the wild market turmoil that President Donald Trump’s all-round tariff increases have triggered. The Consumer Price Index for All Urban Consumers (CPI-U) dipped 0.1% on a seasonally adjusted basis in March. The index released by the US Bureau of Labor Statistics that rose 0.2% in February while the all-items index rose 2.4% before seasonal adjustment.
The 0.4% rise in the food index reflected the widely felt price rise in eggs. The food at home index increased 0.5% and the food away from home index rose 0.4% over the month.
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The March Consumer Price Index report that winding up the quarter is the last one ahead of the mayhem that President Donald Trump’s tariff wars have unleashed. Although paused for 90 days now except against China, the retaliatory tariffs have infused huge uncertainty in the market and international trade. The market volatility was evident when a “rumor” that there might be a tariff pause briefly sent global markets roaring back up Monday (April 7). An AP report said the origin of the report was unclear but it appeared to be a misinterpretation of comments made by Kevin Hassett, director of the White House National Economic Council, during a Fox News interview earlier Monday morning. The market then see-sawed back to the dumps wiping out a few more thousands of billion dollars.
The 2.4% rise of all-items index for 12 months ending March, followed a 2.8% increase over the 12 months ending February. The all items less food and energy index rose 2.8 percent over the last 12 months, the smallest 12-month increase since March 2021. Meanwhile, the energy index decreased 3.3% for the 12 months ending March.
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