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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

April 12, 2023

The United States Consumer Price Index (not seasonally adjusted) for All Urban Consumers increased 5.0% year-over-year in March 2023. This was below the 6.0% increase reported in February 2023.

The seasonally adjusted index increased by 5.0% in March 2023 compared to the same time last year. Food (+8.5) and shelter (+8.2) were the largest contributors to the increase. Index for energy decreased 6.4% and index for gasoline decreased 17.4% during this period. The index for all items less food and energy was up 5.6% over the 12-month period.


The month-over-month (seasonally adjusted) change in the CPI - all items less food and energy, was 0.4% in March 2023, down from 0.5% in February 2023. Over the past month, the energy index decreased 3.5%, the food index remained stable, and the shelter index increased 0.6%. Gasoline index decreased 4.6% in March 2023 from the previous month.


Canada and Nova Scotia March 2023 CPI figures will be released on April 18, 2023.


Statistics Canada. Table 18-10-0004-01  Consumer Price Index, monthly, not seasonally adjusted

US Bureau of Labor Statistics, retrieved from FRED, Federal Reserve Bank of St. Louis

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