The PCE index, the Federal Reserve’s preferred inflation gauge, rose to 2% year over year from a 1.7% pace in February, hitting the central bank’s target for the first time in a year. The 12-month increase in the more closely followed core rate of inflation was close behind, rising to 1.9% in March from 1.6% in the prior month. That’s the biggest yearly gain in the core rate since April 2012. The PCE index was unchanged in March. The core rate rose 0.2%. The inflation figures are included in the government’s monthly report on consumer spending. Outlays rose 0.4% last month to mark the first advance since the end of 2017. Incomes climbed 0.3% in March. https://www.marketwatch.com/story/inflation-hits-feds-2-target-possible-prelude-to-faster-rise-in-us-interest-rates-2018-04-30