Inflation Reaches Three-Year High in April
April's personal consumption expenditures (PCE) price index rose by 0.4% month-over-month and hit an annual rate of 3.8%, the highest level since May 2023, according to data from the Commerce Department. The core PCE inflation measure also climbed to its highest annual reading in over two years at 3.3%. Analysts suggest that rising prices are not just due to energy shocks but reflect broader economic pressures.
Topics: consumer spending Federal Reserve inflation PCE index