New York CNN —
The latest US inflation report showed that rising prices continue to weigh on American consumers.
The Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures price index, was up 2.5% for the 12 months that ended in February, a faster pace than January’s 2.4% rise in prices. However, it was in line with FactSet consensus estimates.
Driving the increase in the annual inflation rate was a 2.3% jump last month in energy prices.
The Commerce Department data released Friday means the Fed is even further from achieving its goal of
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