First inflation report under new Fed chief shows prices still rising
The first inflation report under new Federal Reserve chief Kevin Warsh indicates that consumer prices have reached their highest level in nearly three years. The personal consumption expenditures price index rose to an annual rate of 3.8% in April, driven by increases in energy and other spending categories. This rise in inflation poses challenges for Warsh as he navigates economic pressures and potential interest rate adjustments.
- ▪Consumer prices in April were at their highest level in almost three years, with a 3.8% annual increase.
- ▪Core PCE, excluding food and energy, rose 3.3% in April, aligning with economists' forecasts.
- ▪Annual personal income growth slowed to 2.5%, falling below the pace of inflation, impacting household purchasing power.
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MoneyWatch The first inflation report under new Fed chief Kevin Warsh shows prices at highest in nearly 3 years .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. Read Full Bio Aimee Picchi Updated on: May 28, 2026 / 6:02 PM EDT / CBS News Add CBS News on Google The first inflation report under new Federal Reserve chief Kevin Warsh shows consumer prices in April were at their highest level in almost three years.
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