Key inflation indicator rose 3.1% from a year ago, highest since 1992

A key inflation indicator rose 3.1 percent in April from a year ago as costs continued to grow in the US economy just as it’s mounting a comeback from the pandemic, the feds said Friday.

It is the most since July 1992 that the core personal consumption expenditures index has risen over 12 months. The so-called core PCE index, which excludes food and energy, rose 0.7 percent from March, the highest month-over-month rise since October 2001, the Commerce Department reported.