Gasoline Price Increase May Impact March CPI

Jim Bianco, president of Bianco Research posted on X, notes that the national average of gasoline prices has risen 32 cents (13%) since last Friday. If prices remain stable, this increase could add 0.4% to the headline CPI. The Cleveland Fed estimates CORE CPI could rise by 0.25%, potentially pushing March CPI to 0.6% or 0.7%. This may elevate March's year-over-year CPI to 3%, up from January's 2.4%, with a higher impact on PCE.