US inflation rose to 2.7 per cent in the year to March, according to the metric the Federal Reserve uses to set its target for price pressures.
Friday’s data on personal consumption expenditures surpassed economists’ expectations of a slight increase to 2.6 per cent from 2.5 per cent in February.
Core PCE, the Federal Reserve’s preferred measure of underlying price pressures, remained at 2.8 per cent, compared with an anticipated fall to 2.7 per cent.
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