Consumer Price Index rose 0.4% in March; majority of U.S. homes struggle paying for food

This month’s Consumer Price Index was just released and it shows that in March, prices rose another 0.4 percent, which is the same increase as February.

However, on the year, it is up 3.5 percent, and the markets were expecting 3.4 percent. Last month’s report was at 3.2 percent. On the year, food is up 2.2 percent.

With today’s CPI release showing consumers paying more for products across the board, new numbers from USDA’s Research Arm shows a large portion of U.S. homes have had trouble paying for food over the last several years. 11 percent of households experienced food insecurity between 2016 and 2021, and they place blame on a lack of resources. Four percent of those homes felt what is called “very low food security,” which is where food intake is reduced and eating habits are disrupted.