By Gwynn Guilford

U.S. consumer prices picked up sharply in March as the economic recovery gained momentum, partly reflecting higher gasoline prices.

The Labor Department reported Tuesday that the consumer-price index--which measures what consumers pay for everyday items including groceries, clothing, recreational activities and vehicles--jumped 2.6% in the year ended March, and rose a seasonally adjusted 0.6% in March from February.

The so-called core CPI, which excludes the often-volatile categories of food and energy, climbed 1.6% over the prior year, and was up 0.3% in March from February.

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(END) Dow Jones Newswires

April 13, 2021 08:57 ET (12:57 GMT)

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