Year-over-year inflation shot up to 3.5% in March

The CPI registered an increase of 0.3% compared to February.

The Department of Labor (DOL) reported that inflation stood at 3.5% in March, 0.3 percentage points higher than in February. The year-over-year Consumer Price Index (CPI) rose again for the second consecutive month.

"The all items index rose 3.5 percent for the 12 months ending March, a larger increase than the 3.2-percent increase for the 12 months ending February," the DOL wrote.

On the other hand, the price index of all products, except food and energy resources, shot up to 3.8%, 0.4 percentage points above the February indicator: "The all items less food and energy index rose 3.8 percent over the last 12 months."

By item, in March, the CPI increased for food served outside the home, gasoline, electricity, clothing, sanitary items, accommodation, transportation services and health care services. On the other hand, the CPI for fuel oil, new vehicles and second-hand vehicles fell and remained unchanged for food served at home and for municipal gas services.