Inflation rises 3.3% year-over-year in March.

• March CPI rose 3.3% year-over-year, slightly below the 3.4% estimate.
• Headline CPI increased 0.9% month-over-month, with energy prices up 10.9% and gasoline up 21.2% in March.
• Core CPI (excluding food and energy) rose a more benign 0.2% month-over-month and 2.6% year-over-year, both below estimates.

The March CPI report indicates that inflation rose 3.3% year-over-year, slightly below the estimated 3.4%. Month-over-month, headline CPI increased by 0.9%, largely driven by a significant surge in energy and gasoline prices. However, core CPI, excluding volatile food and energy, showed a more benign 0.2% month-over-month gain and a 2.6% year-over-year increase, both slightly below expectations.