The Commerce Department said Friday the cost of goods and services increased by 2.7% in March, compared to the same time last year, slight the goal of getting inflation below 2%.
The data is complied and released by the department's Bureau of Economic Analysis and measures the prices U.S. consumers pay for goods and services.
The report is also a closely watched by the Federal Reserve, which adjusts interest rates, most recently increasing, in an attempt to cool the economy and tamp related inflation.
