From the Editor's Desk

More Bad News for the Fed: Its Favorite Inflation Gauge Increased More Than Expected in March

Inflation is showing little signs of cooling. The core personal consumption expenditures price index, the Federal Reserve's favorite inflation gauge, held steady last month, and that's still too hot for comfort.

The core PCE price index, which strips out the more volatile prices of food and energy, rose by 0.3 percent in March, in line with the 0.3 percent measured in February, according to data released by the Bureau of Economic Analysis on Friday. Over the past 12 months, the core PCE index has increased by 2.8 percent, keeping pace with data published in February. Economists had forecasted an annual increase of 2.7 percent. 


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