US inflation rises to 3.8% in April, highest level in nearly 3 years

The PCE price index, which is the US Federal Reserve's primary measure of inflation, increased 0.4 per cent from the previous month and 3.8 per cent from a year earlier in April. Excluding food and energy prices, the core PCE price index rose 0.2 per cent month-on-month and 3.3 per cent year-on-year, the BEA said.