US Annual PCE Inflation Rises to 3.5 Percent in March
The PCE price index rose 0.7% in March as energy costs climbed. Annual inflation reached 3.5%, supporting views that the Fed will keep interest rates steady.
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The United States PCE price index rose 0.7% in March, the largest monthly gain since June 2022. Annual inflation reached 3.5%, up from 2.8% in February, as the war in Iran drove energy costs higher. Sticky inflation likely forces the Federal Reserve to maintain interest rates at current levels well into next year.
