CPI Shows 12 Month Inflation Rate at 2.4%; Lowest Core in 4 Years

MARY CHASTAIN APR 10, 2025 11:00 AM

The Consumer Price Index (CPI) showed that inflation fell by 0.1% in March.

The number put the 12-month core inflation rate at 2.4%, the lowest in four years.

However! Yes, there is always a however (emphasis mine):

The index for energy fell 2.4 percent in March, as a 6.3-percent decline in the index for gasoline more than offset increases in the indexes for electricity and natural gas. The food index, in contrast, rose 0.4 percent in March as the food at home index increased 0.5 percent and the food away from home index rose 0.4 percent over the month.The index for all items less food and energy rose 0.1 percent in March, following a 0.2-percent increase in February. Indexes that increased over the month include personal care, medical care, education, apparel, and new vehicles. The indexes for airline fares, motor vehicle insurance, used cars and trucks, and recreation were among the major indexes that decreased in March.The all items index rose 2.4 percent for the 12 months ending March, after rising 2.8 percent 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. The energy index decreased 3.3 percent for the 12 months ending March. The food index increased 3.0 percent over the last year.

I am here to give it to you straight, no matter who is in office, Democrat or Republican. The main points:

• Energy decreased 3.3% overall in the past 12 months
• Food increased over 3.0% in the past 12 months
• All items without food & energy increased 2.8% in the past 12 months, but it’s the smallest increase in four years

Time to dissect the charts.

The numbers aren’t great, but they’re not awful. If energy prices keep falling, it will affect other prices. I hope to see all the numbers decrease in the next 12 months.

Food:

• Meats, poultry, fish and eggs: -0.8% in a month, +0.5% in 12 months
• Meats (all): +1.1% in a month, +4.6% in 12 months
• Ground beef: +3.1% in a month, +10.4% in 12 months
• Fresh & frozen chicken parts: +0.6% in a month, +1.4% in 12 months
• Eggs: +5.9% in a month, +60.4% in 12 months
• Fruits & veggies: -0.7% in a month, -0.7% in 12 months
• Bananas: +1.1% in a month, -0.8% in 12 months
• Butter: -0.8% in a month, +5.5% in 12 months
• Flour: +1.5% in a month, +2.9% in 12 months
• Sugar: +0.1% in a month, +3.6% in 12 months
• Bread: -1.0% in a month, +0.1% in 12 months
• Milk: +1.0% in a month, +2.9% in 12 months
• Coffee: +0.9% in a month, +6.7% in 12 months
• Pop: +1.3% in a month, +1.6% in 12 months

Energy:

• Gasoline (all types): -6.3% in a month, -9.8% in 12 months
• Gasoline (regular): -6.6% in a month, -10.3% in 12 months
• Electricity: +0.9% in a month, +2.8% in 12 months
• Utility (piped) gas service: +3.6% in a month, 9.4% in 12 months

Medicine:

• Prescription drugs: -2.0% in a month, +2.1% in 12 months
• Nonprescription drugs: -0.3% in a month, -0.6% in 12 months
• Health insurance: +0.4% in a month, +3.1% in 12 months

Shelter:

• Shelter (overall): +0.2% in a month, +4.0% in 12 months
• Rent of primary residence: +0.3% in a month, +4.0% in 12 months
• Owners’ equivalent rent of primary residence: +0.4% in a month, +4.4% in 12 months
• Lodging away from home: -3.5% in a month, -2.5% in 12 months

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