Inflation is getting worse and consumers aren’t happy about it, a pair of closely watched reports revealed Friday.
The core personal consumption expenditures price index, the Federal Reserve’s preferred inflation metric, was at a higher-than-expected 2.8% in February, up from 2.4% a month earlier. Consumer sentiment also fell 12% in the latest March reading, the third consecutive monthly decline, and consumer expectations of the future plunged 18%.