March CPI 2023: The Numbers That All Investors Are Watching Today


  • The latest March Consumer Price Index (CPI) data is available.
  • That saw inflation increase by 5% year-over-year.
  • Rising shelter prices offset energy price drops.
March CPI - March CPI 2023: The Numbers That All Investors Are Watching Today

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The March CPI data is out and there are a few key numbers that investors will want to keep in mind while trading today.

Starting off with the basics, inflation increased by 5% on a year-over-year (YOY) basis. That marks the smallest YOY increase since May 2021. The monthly inflation increase in March was 0.1% compared to a 0.4% increase in February.

When looking at the YOY data, shelter prices were a major contributing factor to inflation increases. They rose 8.2% during March, which acted as an offset to energy prices decreasing 6.4%. Food prices didn’t help as they surged 8.5% from the same time last year.

Breaking Down March CPI Energy Data

The drop in energy prices comes from decreases across the sector. That includes a YOY drop of 17% for energy commodities, a 17.4% decrease for gasoline, as well as a 14.2% decline for fuel oil.

However, energy services increased by 9.2% compared to March 2022 CPI data. That’s due to electricity seeing a 10.2% rise YOY. Adding to that is utility (piped) gas service increasing by 5.5% from the same period of the year prior.

Another quick thing to note from the March CPI data is the falling price of used cars and trucks. That dropped 11.2% YOY. On the flip side of that, transportation services for the month increased by 13.9 YOY.

Keeping all of this in mind, investors will want to see what else is happening with the stock market on Wednesday!

Fortunately, we’ve got them covered with our breakdown of what’s happening today! A few examples include what’s moving shares of Novavax (NASDAQ:NVAX), National Instruments (NASDAQ:NATI), and AMTD Digital (NYSE:HKD) stock today. You can read up on all of this news at the links below!

More Wednesday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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