April 12 (UPI) -- The Consumer Price Index increased 8.5% in March over the same time last year, as inflation continued to batter the economy after the Federal Reserve last month increased interest rates.
Near record-high gasoline prices along with jumps in the cost of shelter and food sparked the monthly increase of 0.8% in March as compared to the month before. The gasoline index bolted 18.3% in March, accounting for more than half of all items in the monthly increase, according to the Labor Department report.