Consumer prices rose in March in what amounts to another positive indicator of US economic growth

Consumer prices rose in March in what amounts to another positive indicator of US economic growth. The CPI increased 0.2% from the prior month with the total index climbing 1.5% over the last year. The largest contributors to the increase were shelter and food, while energy showed a slight decline. Core CPI (minus food and energy) also increased 0.2% last month and is up 1.7% over the last 12 months. Keep in mind, food and energy are highly volatile and don't correlate with overall inflation as well as core CPI does. It's good news to see a bit more inflation as gradual increases in prices and asset values are good for the economy at this stage. The Fed's target inflation is 2%, although many economists argue that 3% or higher would be a better target (given the debt burden of many households).