Consumer prices saw slight rise in March

Honolulu consumer prices rose 0.5% during February and March as the cost for shelter, gasoline and apparel increased, the U.S. Bureau of Labor Statistics reported Wednesday.

The consumer price index — the most widely used measure of inflation — also showed that for the 12-month period ending March 31, prices rose 1.8%. The BLS began publishing last year the change in geographic consumer prices in two-month increments.

Prices for shelter, which comprises 40% of the index, gained 0.5% since January and 3.6% over the past year. Gas prices rose 4.7% over the previous two months but were down 3.3% over the past year. And apparel jumped 5.9% since January but was off 2% over the previous 12 months.

Honolulu prices in 2018 rose 1.9% over the previous year. It was the slowest pace since 2015 and less than the 2.5% gain for Honolulu in 2017. The last time that Honolulu prices rose at a slower pace was in 2015 when it was 1%.

By comparison, U.S. inflation was 2.4% last year.