An inflation measure closely watched by the <a href="https://foxbusiness.com/category/the-fed" target="_blank" rel="noopener">Federal Reserve</a> rose faster than expected in March as high prices continued to weigh on millions of Americans.

The personal consumption expenditures index showed that consumer prices rose 0.3% from the previous month, according to the Labor Department. On an annual basis, prices climbed 2.7% – higher than both the 2.6% forecast and the 2.5% reading recorded the previous month.

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The Federal Reserve's favorite measure of tracking inflation jumped 0.3% in March as American families continue to grapple with elevated consumer prices.{ai:summary}Inflation on the rise in March, personal consumption expenditures index up 0.3% monthly and 2.7% annually per Labor Department. Economic concerns deepen for Americans. #economy

Fed's favorite inflation gauge rises faster than expected in March

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