PCE inflation rate March 2026:
Gasoline prices are displayed at a station in Brooklyn, New York, on April 21, 2026.
Spencer Platt | Getty Images
Consumers faced rising prices in March as the Iran war caused oil prices to rise and created a new level of difficulty for the Federal Reserve.
The core personal consumption expenditures price index, which excludes food and energy, rose a seasonally adjusted 0.3% for the month, pushing the 12-month inflation rate to 3.2%, the Commerce Department reported Thursday. The readings matched Dow Jones consensus estimates.
Higher values were seen when volatile gas and grocery components were also included; The monthly increase was 0.7% and the annual rate reached 3.5%, also in line with forecasts.
In other economic news, the Commerce Department on Thursday reported that gross domestic product grew 2% on a seasonally adjusted annual basis in the first quarter; This rate was below the 2.2% forecast, up from 0.5% in the fourth quarter of 2025.
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