Fed’s Preferred Core Inflation Gauge Rose at Brisk Pace in March
- Core PCE price index, overall measure both came in as expected
- Wages rose 0.7% for a second month, supporting spending
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The Federal Reserve’s preferred gauge of underlying US inflation rose at a brisk pace in March, reinforcing concerns of persistent price pressures that are likely to delay any interest-rate cuts.
The so-called core personal consumption expenditures price index, which strips out the volatile food and energy components, increased 0.3% from the prior month, data out Friday showed. From a year ago, it advanced 2.8%.