Paycheck growth accelerated in Q1, a possible concern for the Fed

Pay and benefits for America’s workers grew more quickly in the first three months of this year. The Labor Department says compensation as measured by the government’s Employment Cost Index rose 1.2% in the January-to-March quarter. That’s up from a 0.9% increase in the previous quarter. It’s a trend that could contribute to higher inflation and raise concerns about the future path of price increases at the Federal Reserve.