US consumer prices rise

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U.S. consumer prices climbed 0.4% in March, an increase caused mostly by higher costs for gasoline, electricity and shelter.

The Labor Department says the consumer price index rose a healthy 1.9% last month from a year ago, a sharp jump from the annual pace of 1.5% in February.

Inflation has been relatively modest even as the job market has strengthened over the past several years. But the increase in energy prices in March — which accounted for 60% last month's increase — ate into recent wage growth. Average hourly wages have increased 1.3% in the past year, down from a gain of 1.9% in February.

Excluding the volatile energy and food categories, core prices increased 0.1% in March and 2% from a year ago.