The latest inflation figures released Thursday confirm what many investors and consumers have increasingly suspected: Inflation in the United States is no longer easing. Instead, it is accelerating. The Federal Reserve’s preferred inflation gauge — the Personal Consumption Expenditures (PCE) price index — showed that prices in April rose 3.8% from a year earlier, the fastest pace since May 2023. The “core” PCE measure, which excludes food and energy, rose 3.3%, the highest reading since late 2023. These numbers follow the surprisingly strong consumer and wholesale inflation reports released earlier this month. ... (full story)