US Inflation Accelerated in March

Inflation in the United States picked up pace in March, with the Personal Consumption Expenditures (PCE) index rising 0.7 percent month-over-month, according to the US Department of Commerce. The March increase represented a significant acceleration from February's 0.4 percent monthly gain. The PCE index is the Federal Reserve's preferred measure of inflation and is closely watched by policymakers and markets as a key indicator of price pressures in the world's largest economy.