Inflation rises but remains below the Fed's 2% target

WASHINGTON – Inflation has remained well below the Federal Reserve's target of 2% in March, as consumer spending has risen, with commercial and technological innovations likely weighing on the prices of many goods.

The Fed's preferred inflation gauge, the personal consumption expenditure index, rose only 1.5% last month from March 2018, the Commerce Department said Monday. Excluding volatile components such as food and energy, core inflation was only slightly above 1.6%.

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