US annual inflation rose to 3.5 percent in March on energy
The PCE price index rose 0.7 percent in March as gas prices climbed due to the Iran war. Annual inflation was 3.5 percent while core prices rose 3.2 percent.
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The United States PCE price index rose 0.7% in March, the largest monthly increase since June 2022. It pushed annual inflation to 3.5%, up from 2.8% in February, as the conflict with Iran drove energy costs higher. The data bolstered financial market expectations that the Federal Reserve could maintain interest rates at current levels well into next year.
