The Federal Reserve has reported that inflation rose again in March, despite a year's worth of interest rate increases. The personal consumption expenditures price index, excluding food and energy, increased 0.3 percent for the month, while core PCE increased 4.6 percent annually, slightly higher than expectations. Including food and energy, headline PCE rose 0.1 percent for the month, equating to a 4.2 percent annual increase, down from 5.1% in February. Additionally, the employment cost index increased by 1.2 percent for the first quarter, exceeding the 1 percent estimate.