Consumer Prices See Largest Monthly Increase in Over a Year: PCE Index Up 0.3% in March

In a recent development, the personal consumption expenditures index revealed that consumer prices increased by 0.3% in March compared to February, according to data released by the Labor Department. This increase surpassed the predicted growth rate of 0.2%. When evaluated on an annual basis, prices witnessed an incremental ascent reaching up to 2.7%, which is higher than both the anticipated figure and last month’s reading that stood at 2.5%. As this news unfolds, please stay tuned for further updates.