U.S. inflation rate surges to 6.6%, PCE index shows, but prices might also be peaking

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The numbers: The Federal Reserve’s preferred measure of inflation rose a sharp 0.9% in March, but the increase largely stemmed from a surge in the cost of gas and there were some signs that intense price pressures could be starting to ease. Over the past 12 months, the personal consumption price index has climbed 6.6%, up from 6.4% in February, the government said Friday. That’s the steepest ...

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