March 2026 PCE: Core inflation steady as energy costs surge and GDP ticks higher
March 2026 core PCE rose 0.3% month-over-month (3.2% year-over-year), with total inflation up 0.7% and 3.5% year-over-year when including energy and food. GDP grew 2.0% annualized in Q1 2026, while unemployment claims fell to 189,000. The Fed kept rates unchanged amid persistent inflation, with four dissents over policy phrasing, as energy costs and goods price pressures remained a key driver of inflation.