<div id="readability-page-1"><p>In March, the Personal Consumption Expenditures (PCE) Index rose 0.7%, increasing from 0.4% in February. On an annual basis, PCE increased by 3.5%, the highest since May 2023 and up from 2.8% in the prior month. Both figures were in line with their consensus estimates.</p><h3>Claim 55% Off TipRanks</h3>Trade QQQ with leverage <p>Rising energy costs were largely responsible for the acceleration, with consumers spending $81.3 billion more on gas and other energy goods month-over-month. Prices at the pump have surged 44%, or $1.32, to $4.30 since the beginning of the U.S.-Iran war on February 28. Spending on health care and motor vehicles also contributed to the growth. </p> <h2><strong>Core PCE Holds Above Fed Target</strong></h2> <p>Core PCE, which excludes volatile food and energy prices, notched a monthly increase of 0.3% and a year-over-year jump of 3.2%, the highest since November 2023. Both figures matched their respective estimates. PCE tracks changes in the prices consumers pay for goods and services over time, while core PCE is the Fed's preferred gauge of inflation.</p> <p>The data shows that when excluding energy, inflation still remains above the Fed's 2% target. On Wednesday, the central bank voted to keep interest rates unchanged as it continues its efforts to curb price pressures.</p></div>

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<p>In March, the PCE Index rose 0.7%, up from 0.4% in February, with an annual increase of 3.5%, the highest since May 2023. Rising energy costs, particularly a 44% surge in gas prices, contributed significantly to this acceleration. Core PCE, excluding food and energy, increased by 0.3% monthly and 3.2% annually, remaining above the Fed's 2% target. The central bank decided to keep interest rates unchanged as it addresses ongoing inflation pressures.</p>

- In March, the Personal Consumption Expenditures (PCE) index increased by 0.7%, up from 0.4% in February, with an annual growth of 3.5%, the highest since May 2023.  
- Rising energy costs, notably a 44% increase in oil prices since the U.S.-Iran war began, contributed significantly, leading to an additional $81.3 billion in consumer spending on gasoline and energy.  
- Core PCE, which excludes volatile food and energy prices, grew by 0.3% month-over-month and 3.2% year-over-year, prompting the Federal Reserve to keep interest rates unchanged in its effort to combat inflation above the 2% target.

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PCE Inflation Climbs to Near Three-Year High as Oil Prices Surge