The US consumer price index increased by 1.2% in March, up from 0.8% in February bringing the annual overall inflation rate to 8.5%.

Overall food price inflation for the year to March was 8.8% but within this meat and dairy prices were considerably higher.

Overall consumer price index (CPI) for beef inflation was up 1% in March compared with February and 16% for the year ending March 2022.

The CPI for pigmeat was 15.3% for the year to March while poultry meat CPI increased to 13.2%

Overall dairy prices increased by 7% but within the category fresh whole milk increased by 14.8% and butter increased by 12.5% for the year ending March 2022.

The largest increases were for motor fuel, which was 48.2% higher in March 2022 compared with a year ago.

Electricity was 11.1% higher and piped gas was 21.6% higher in March 2022 than a year earlier.