US PCE rises in March as Middle East conflict pushes oil prices higher

(Sharecast News) - US consumers saw price pressures pick up in March as the conflict in Iran pushed oil sharply higher, adding to the Federal Reserve's interest rate policy woes. According to the Bureau of Economic Analysis, the core personal consumption expenditures price index, which strips out volatile fuel and grocery costs, rose 0.3% month-on-month, taking the annual rate to 3.2%.

Headline PCE increased 0.7% on the month and 3.5% year‑on‑year, in line with expectations but still well above the central bank's 2% target.



Reporting by Iain Gilbert at Sharecast.com