Inflation gauge ticks higher than expected in March

A gauge of inflation, the US Personal Consumption Expenditures price index, rose to 2.7% for the 12 months ended in March, CNN reported. The rate was above economists’ expectations of 2.6% and February’s reading of 2.5%. “We’re moving in the wrong direction, again, on the inflation story,” Ben Ayers, Nationwide’s senior economist, told CNN in an interview.