The Federal Reserve’s preferred inflation gauge measured above expectations in March as the U.S. continues to see a surge in prices, among other concerning economic data, according to data from the Bureau of Economic Analysis (BEA) released Friday.
The personal consumption expenditure (PCE) price index surged 0.3% in March, totaling 2.7% for the year and up from 2.5% in February, according to the BEA. The March PCE report adds to other recent concerning economic data, such as a report from the BEA on Thursday showing economic growth slowed to just 1.6% in the first quarter of 2024. (RELATED: The Oil And Gas Industry Might Be What’s Keeping Biden’s Economy Humming On Paper Despite ‘Regulatory Assault’)
The PCE price index, which the Fed looks primarily to in determining inflation trends in order to set monetary policy, was slightly lower than the consumer price index (CPI),…
