The Fed’s preferred inflation gauge just moved in the wrong direction
By Alicia Wallace, CNN (CNN) — Inflation remained stubbornly high last month. The Personal Consumption Expenditures price index accelerated to 2.7% for the year ended in March. That rate was above economists’ expectations for a 2.6% gain and landed above February’s reading of 2.5%. On a monthly basis, prices rose 0.3%, unchanged from the pace
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