Personal income increased $149.2 billion (0.6 percent at a monthly rate) in March, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA). Disposable personal income (DPI)—personal income less personal current taxes—increased $142.5 billion (0.6 percent), and personal consumption expenditures (PCE) increased $195.4 billion (0.9 percent). Personal outlays the sum of PCE, personal interest payments, and personal current transfer payments—increased $198.6 billion in March. Personal saving was $857.3 billion in March, and the personal saving rate—personal saving as a percentage of DPI—was 3.6 ... (full story)

A key inflation measure jumped in March as gas prices soared, the latest sign that the Iran war is pushing up the cost of living and delaying any interest rate cuts by the Federal Reserve. An inflation gauge monitored by the Fed rose 0.7% in March from February, up slightly from the previous month. Compared with a year ago, prices rose 3.5%, the biggest increase in almost three years. Excluding the volatile food and energy categories, core inflation rose 0.3% in March from February, and it was 3.2% higher than a year earlier. The annual figure is above February’s reading of 3%. Rising gas prices have caused inflation ... (full story)