-- Overall U.S. inflation accelerated by more than anticipated on an annualized basis in March, while underlying price pressures remained stubbornly elevated.
According to data from the Bureau of Economic Analysis, the personal consumption expenditures (PCE) price index sped up to 2.7% from 2.5% in February. Economists had expected the figure to climb to 2.6%.
Stripping out volatile items like food and fuel, the year-on-year "core" gauge matched the prior month's mark of 2.8%. It was seen slowing to 2.6%.
Month-on-month, both figures came in at 0.3%, in line with February.
Friday's data comes after U.S. economic growth and inflation in the first quarter led many investors to push back when they expect the Fed could start ratcheting down interest rates from more than two-decade highs.
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