Gas Prices Helped Drive Softer March Inflation

Gas Prices Helped Drive Softer March Inflation

Low prices at the pump were a big contributor to the significant cooling in inflation last month, but energy prices overall were softer as well.

The overall energy index saw an outright decline of 2.4% month over month in March, the BLS reported Thursday. That’s compared to the 0.2% rise in February. Over the past year, energy prices declined 3.3%.

The index for gasoline fell by a dramatic 6.3% month over month. Compared with a year ago, gas prices have declined 9.8%.