Consumer prices rose 3.5% from a year ago in March, more than expected

[progree]

18. I added PCE and Core PCE to my assemblage of graphs in my #4 above

https://www.democraticunderground.com/10143223421#post4

so they can be more easily compared to each other. So I have:

Core CPI
Regular aka headline CPI

Core PCE
Regular aka headline PCE.

It's my understanding that the Fed weighs the PCE more heavily that the CPI
And, in both cases weighs the Core measures more heavily than the regular measures as a baseline for predicting FUTURE inflation.

So of the four graphs, the Core PCE is the one to concentrate most on in predicting what the Fed is going to do. Although it's nearly 2 weeks older than today's CPI reports.

And thanks for pointing out that wages have been more than keeping up. There's been a very slight dip in the real (i.e. inflation-adjusted) average hourly earnings of production and non-supervisory workers in the last 2 months, but as you often mention, its well above pre-pandemic levels (and, edited to add, year ago levels).
https://data.bls.gov/timeseries/CES0500000032

ETA: Real average hourly earnings of all private sector workers: https://data.bls.gov/timeseries/CES0500000013

My bond funds have been slaughtered (down 22% in purchasing power) as well as the purchasing power of my annuity, Sigh, looking at last 3 years. So I'm dismayed that interest rates are likely to be higher for longer than people were thinking a month or two ago (which will keep bond prices from recovering). Fortunately stocks, as represented by the Vanguard 500 Index Fund VFIAX is up 12.9% in purchasing power over the same 3 year period.