Cost of gas and housing push up US inflation in March

Rising gas prices and stubbornly high shelter costs have stalled some of the progress made on slowing inflation.

US consumer prices picked up again last month, marking a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.

That jumps from February’s 3.2% rate and marks the highest annual gain in the past six months, highlighting how the path to lower inflation remains bumpy.

On a monthly basis, prices were unchanged from February’s 0.4% gain.