US Inflation Increases in Line with Expectations: Experts

The monthly inflation in the United States increased moderately in March. However, higher costs of housing and utilities suggested that the Federal Reserve could keep the interest rates elevated for a while. According to the Commerce Department's Bureau of Economic Analysis, the personal consumption expenditures (PCE) price index increased 0.3% last month, matching the unrevised gain in February. In the 12 months through March, inflation rose 2.7% after advancing 2.5% in February. This increase in inflation last month was broadly in line with economists' expectations. The PCE price index is one of the inflation measures tracked by the US central bank for its 2% target.

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