Core inflation rate hit 3.2% in March; GDP grew 2% in first quarter; jobless claims lowest since 1969 [View all]
Source: CNBC
Published Thu, Apr 30 2026 8:34 AM EDT Updated 7 Min Ago
Consumers faced escalating prices in March as the Iran war sent oil soaring and created a new level of challenges for the Federal Reserve, according to a batch of reports Thursday that showed economic growth slower than expected and a generational low in layoffs.
The core personal consumption expenditures price index, which excludes food and energy, accelerated a seasonally adjusted 0.3% for the month, pushing the 12-month inflation rate to 3.2%, the Commerce Department reported Thursday. The readings matched the Dow Jones consensus estimates. Core inflation hit its highest level since November 2023.
Including the volatile gas and groceries components saw higher readings, with the monthly gain at 0.7% and the annual rate hitting 3.5%, also in line with forecasts.
In other economic news Thursday, the Commerce Department reported that gross domestic product grew at a 2% seasonally adjusted annualized pace in the first quarter, up from 0.5% in the fourth quarter of 2025 but lower than the 2.2% estimate. The modest growth rate came despite a seeming surge in spending on artificial intelligence and what should have been a boost from the end of last year’s government shutdown.
Read more: https://www.cnbc.com/2026/04/30/pce-inflation-rate-march-2026.html
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8:30 AM · Apr 30, 2026
https://www.bea.gov/news/2026/personal-income-and-outlays-march-2026
Article updated.
Previous article/headline
Published Thu, Apr 30 2026 8:34 AM EDT Updated 7 Min Ago
Consumers faced escalating prices in March as the Iran war sent oil soaring and created a new level of challenges for the Federal Reserve.
The core personal consumption expenditures price index, which excludes food and energy, accelerated a seasonally adjusted 0.3% for the month, pushing the 12-month inflation rate to 3.2%, the Commerce Department reported Thursday. The readings matched the Dow Jones consensus estimates.
Including the volatile gas and groceries components saw higher readings, with the monthly gain at 0.7% and the annual rate hitting 3.5%, also in line with forecasts.
In other economic news Thursday, the Commerce Department reported that gross domestic product grew at a 2% seasonally adjusted annualized pace in the first quarter, up from 0.5% in the fourth quarter of 2025 but lower than the 2.2% estimate.
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Original article -
The core personal consumption expenditures price index was expected to rise to 3.2% in March, according to the Dow Jones consensus.
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