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Javier Ghersi/Getty Images(NEW YORK) Consumer prices rose 3.5% in March compared to a year ago, accelerating markedly from the previous month and reversing some of the progress achieved in a two-year fight to cool inflation, U.S. Bureau of Labor Statistics data showed. The finding matched economists expectations.Price increases have cooled dramatically from a peak of about 9%, but inflation still stands more than a percentage point higher than the Federal Reserve s target rate of 2%.A spike in housing and gasoline prices at the outset of this year has helped prolong the nation s bout of elevated inflation. Meanwhile, economic performance has been robust, boosting consumer demand and putting upward pressure on prices.The latest finding indicated an uptick from the 3.2% annual inflation rate recorded in February.At a meeting last month, the Fed opted to keep rates highly elevated in response to stubborn inflation. The Fed Funds rate remains between 5.25% and 5.5%, matching its highest
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