Fed's key inflation measure shows prices increased 2.7% last month, compared to March 2023

The U.S. government defines the Personal Consumption Expenditures Price Index as a "measure of the prices that people living in the United States, or those buying on their behalf, pay for goods and services."

Published: April 26, 2024 9:25am

Updated: April 26, 2024 9:50am

The Commerce Department said Friday the cost of goods and services increased by 2.7% in March, compared to the same time last year, slight the goal of getting inflation below 2%.

The data is complied and released by the department's Bureau of Economic Analysis and measures the prices U.S. consumers pay for goods and services.

The report is also a closely watched by the Federal Reserve, which adjusts interest rates, most recently increasing, in an attempt to cool the economy and tamp related inflation.

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