Inflation Rises to at 3.3%

“Inflation is a far more devastating tax than anything enacted by our legislature.” - Warren Buffett

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9% on a seasonally adjusted basis in March. Over the last 12 months, the items index increased 3.3% before seasonal adjustment. The index for energy rose 10.9% in March, led by a 21.2% increase in the index for gasoline which accounted for nearly three quarters of the monthly, all items increase.