Contrary to expectations, the US Federal Reserve's preferred inflation index stabilized during the month of March.

Data from the US Department of Commerce showed, on Friday, that the annual core personal consumption expenditures price index, which excludes volatile food and energy components, remained unchanged at 2.8 percent last March, contrary to expectations that it would decline to 2.6 percent.

The monthly core personal consumption expenditures price index in March remained unchanged at 0.3 percent, in line with expectations.

The index is one of the inflation measures monitored by the US Federal Reserve to reach its goal of reducing inflation to two percent.

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