What the GDP Report Says About Inflation: A Hot First Quarter
Thursday's gross domestic product report suggests that a widely watched inflation reading due Friday could be worse than expected. The Commerce Department said Thursday that core inflation, which excludes volatile food and energy prices, rose at a 3.7% annualized rate during the first quarter, above economists' expectations of a 3.4% gain in the personal-consumption-expenditures price index. The core PCE index was up 2.9% from the year-ago quarter.
