US consumer prices hit their highest level since 2005 in March

Data showed that the consumer price index in the United States rose by 1.2% in March, the highest level since September 2005, compared to 0.8% in February, and gasoline prices represented more than half of the increase in the consumer price index, which rose by 18.3%, the highest level since June 2009.

On an annual basis, the consumer price index rose 8.5% in the twelve months to March, the highest level since December 1981, after rising 7.9% in February. Core CPI rose 0.3% in March after rising 0.5% in February, and on an annualized basis, Core CPI rose 6.5% in March, the biggest gain since August 1982, after rising 6.4% in February