U.S. consumer prices rise 0.2% on shelter costs in March

U.S. consumer prices rise 0.2% on shelter costs in March

U.S. consumer prices rose a seasonally adjusted 0.2% in March due to higher shelter and food costs, the Labor Department said Tuesday. Food prices jumped 0.4% for the second straight month while shelter costs rose 0.3%. Energy prices fell 0.1% led by lower gasoline costs. The core CPI, which excludes volatile food and energy costs, also rose 0.2%, driven by shelter. Economists surveyed by MarketWatch had expected the overall CPI and core rate to both increase by 0.1%. Consumer prices have risen an unadjusted 1.5% over the past 12 months or by 1.7% on a core basis. Real or inflation-adjusted hourly wages, meanwhile, fell 0.3% in March to $10.31. Real wages have risen 0.5% over the past 12 months