DEVELOPING: A key inflation gauge tracked by Fed remained high in March.
Some Fed officials are concerned that core inflation hasn’t declined much since reaching 4.7% in July.
Friday’s inflation figures point to the dilemma confronting officials at the Federal Reserve: Across the economy, price increases for many goods have slowed significantly. And some previous drivers of inflation, notably clogged supply chains, have eased. Yet prices for many services, including restaurants, auto insurance and hotel rooms, are still surging, fueled by robust demand from consumers who in many cases have enjoyed rising wages.
There is growing evidence that the Fed’s efforts to slow consumer spending and economic growth are succeeding. The government’s figures Friday on consumer spending suggested that consumers have grown more cautious since the start of the year, when spending had jumped 2% just in January. The spending surge that month was fueled by a nearly 9% jump in Social Security and other benefit payments that are intended to keep pace with inflation.
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A key inflation gauge tracked by Fed remained high in MarchA key index of underlying inflation that is closely followed by the Federal Reserve remained elevated last month, keeping the Fed on track to raise interest rates next week for the 10th time since March of last year. The index, which excludes volatile food and energy costs to capture “core” prices, rose 0.3% from February to March and 4.6% from a year earlier — still far above the Fed’s 2% target rate. Some Fed officials are concerned that core inflation hasn’t declined much since reaching 4.7% in July.
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Inflation fell to 4.2% in March, according to key gauge watched by FedJUST IN: Inflation fell to a 4.2% annual rate in March, as measured by the gauge favored by the Federal Reserve.
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A key inflation gauge tracked by Fed remained high in MarchA key index of underlying inflation that is closely followed by the Federal Reserve remained elevated last month, keeping the Fed on track to raise interest rates next week for the 10th time since March of last year.
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Key inflation gauge for the Fed rose 0.3% in March as expected
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Breaking: US annual Core PCE inflation declines to 4.6% in March vs. 4.5% expectedBreaking: US annual Core PCE inflation declines to 4.6% in March vs. 4.5% expected – by FXstreetNews Breaking Inflation UnitedStates Macroeconomics
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The Fed's favorite inflation measure cooled again in March | CNN BusinessThe Federal Reserve's favorite inflation measure cooled further in March, a sign that the central bank's massive rate-hike campaign is taking hold, according to new data released Friday by the Commerce Department.
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