The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3% from a month ago. Including volatile food and energy costs, the headline PCE reading showed a 0.3% increase for the month and 2.5% at the 12-month rate compared to estimates for 0.4% and 2.5%. Both stock and bond markets were closed in observance of the Good Friday holiday. While the Fed targets 2% annual inflation, core PCE inflation hasn’t been Source
