The headline personal consumption expenditure (PCE) price index rose 1.6 percent year over year in April, an acceleration from a 1.1 percent pace in March and the largest rise since October 2012. On an annualized basis, headline PCE inflation was 2.4 percent, the strongest it has been since June 2013. Year-over-year core PCE price inflation, which excludes food and energy, rose 1.4 percent, and the trimmed-mean inflation rate, an alternative measure of core inflation, rose 1.6 percent year over year.
