Inflation Declined in March, But Remains High

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Inflation Declined in March, But Remains High

Chair Jerome Powell leads the Federal Open Market Committee (FOMC) press conference. 2022. Inflation is once again on the decline, new data from the Bureau of Economic Analysis (BEA) show. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew at a continuously compounding annual rate of 3.9 percent in March. It grew at an annualized rate of 5.1 percent in January and 4.0 p…