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U.S. PCE Price Index Rises In Line With Estimates In February
(RTTNews) - A report released by the Commerce Department on Friday showed U.S. consumer prices increased in line with economist estimates in the month of February, although core consumer prices rose by slightly more than expected.
The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in February, matching the increase seen in the two previous months as well as economist estimates.
The annual rate of growth by the PCE price index was 2.5 percent in February, unchanged from January and in line with expectations.
Meanwhile, the report said the core PCE price index, which excludes food and energy prices, climbed by 0.4 percent in February after rising by 0.3 percent in January. Economists had expected another 0.3 percent increase.
The annual rate of growth by the core PCE price index also accelerated to 2.8 percent in February from an upwardly revised 2.7 percent in January.
Economists had expected the year-over-year growth by the core PCE price index to tick up to 2.7 percent from the 2.6 percent originally reported for the previous month.
The Federal Reserve's preferred readings on consumer price inflation were included in the Commerce Department's report on personal income and spending.
The report said personal income increased by 0.8 percent in February after climbing by 0.7 percent in January, while personal spending rose by 0.4 percent in February after falling by 0.3 percent in January.
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