Inflation Stayed Elevated in March
Inflation, as measured by the Federal Reserves preferred gauge, remained elevated last month ().
Whats going on: The Personal Consumption Expenditures price index accelerated to 2.7% for the year ended in March. That rate was above economists expectations for a 2.6% gain and landed above Februarys reading of 2.5%.
- Prices increased 0.3% on a monthly basis, the same pace as in February.
Core PCE: So-called core PCE, which excludes often-volatile food and energy prices, remained steady at 2.8%.
Spending: Consumer spending stayed strong in March, rising 0.8% from February and exceeding economists expectations.
