Inflation gauge favored by Fed showed price growth slowed in March
The Fed's preferred inflation gauge showed price growth slowed in March, as the personal consumption expenditures (PCE) index trended closer to the central bank's target.
The Federal Reserve's preferred inflation gauge showed that price growth slowed in March, with inflation trending closer to the central bank's target rate.
The Commerce Department on Wednesday reported that the personal consumption expenditures (PCE) index was flat compared with the prior month and grew 2.3% on an annual basis. Those figures were largely in line with the estimates of economists polled by LSEG.
Core PCE, which excludes volatile food and energy prices, was also flat from a month ago and grew 2.6% on an annual basis.
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