CNN  —  Inflation remained stubbornly high last month. The Personal Consumption Expenditures price index accelerated to 2.7% for the year ended in March. That rate was above economists’ expectations for a 2.6% gain and landed above February’s reading of 2.5%. On a monthly basis, prices rose 0.3%, unchanged from the pace seen in February. While many economists prefer to measure the nation’s inflation levels using the monthly Consumer Price Index, the Fed targets inflation through PCE. When stripping out energy and food prices (categories that tend to be quite volatile), the “core” PCE index held steady at 2.8%. Consumer spending remained strong, jumping 0.8% from the month before. Economists were expecting a 0.5% gain.