WASHINGTON—The Federal Reserve’s key inflation gauge rose at a slow pace in March, remaining well below the central bank’s 2 percent target. The weak inflation number now allows the Fed to consider a rate cut, according to analysts.
The Fed’s preferred inflation measure has been in decline for months. According to the new data released by the Department of Commerce, the price index for personal consumption expenditures (PCE), excluding volatile components such as food and energy, rose only 0.05 percent month-over-month in March.
