The Federal Reserve's Preferred Inflation Gage has some discouraging news.

I'm Novisafa with the Marketplace Minute.

Price increases accelerated a bit in March, according to the Commerce Department's

latest reading of the personal consumption

expenditure's price index.

It advanced 2.7% over the same period a year ago, that's higher than the 2.5% gain

in February. Higher inflation means federal reserve

policy makers are likely to leave interest rates unchanged following their

meeting next week. Many investors and economists are now predicting a rate cut in September at the earliest.

Global oil giants reported lower profits amid subdued natural gas and oil prices during the first

three months of the year. Profit was down 28% at ExxonMobil,

22% at Francis Total, and 16% at Chevron.

First quarter profit at Capital One was up 35% thanks to more interest income, much of it from consumer credit cards.

Its loan loss is increased by 50%.

I'm Nova Safo with a marketplace minute.