First inflation report under Fed Chair Kevin Warsh shows PCE index at 3.8%, highest in nearly 3 years
By
Aimee Picchi
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Summary
The first inflation report under new Federal Reserve Chair Kevin Warsh shows the personal consumption expenditures (PCE) price index — the Fed's preferred inflation measure — rose to an annual rate of 3.8% in April, the highest level in nearly three years. The increase was driven primarily by higher energy costs, according to the Commerce Department report.
Key quotes
· 2 pulledThe personal consumption expenditures price index — the Fed's preferred inflation measure — rose last month at an annual rate of 3.8%
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