Key Fed inflation gauge rose 2.8% annually in February, as expected

The personal consumption expenditures price index excluding food and energy increased 2.8% on a 12-month basis and was up 0.3% from a month ago, matching estimates.

Consumer spending shot up 0.8% on the month, well ahead of the 0.5% estimate. Personal income increased 0.3%, slightly softer than the 0.4% estimate.Inflation rose in line with expectations in February, likely keeping the Federal Reserve on hold before it can start considering interest rate cuts, according to a measure the central bank considers its more important barometer.excluding food and energy increased 2.8% on a 12-month basis and was up 0.

"Nothing really super surprising. Obviously not the numbers the Fed wants to see, but I don't think this is going to catch anybody off guard when they come back to work on Monday," Victoria Greene, chief investment officer at G Squared Private Wealth, told CNBC. "I think everybody is going to pivot to labor pretty quickly and say well maybe if we see some weakness and cracks over here, this little stickiness in inflation and PCE isn't going to matter as much.

Other upward pressure came from international travel services, air transportation, and financial services and insurance. On the goods side, the motor vehicles and parts category was the biggest contributor.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Forex Today: The Fed, the whole Fed and nothing but the FedThe Greenback managed to maintain its multi-session constructive bias well and sound and propel the USD Index (DXY) back above 104.00, albeit ephemerally.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Inflation rose slightly to 2.5% in February in gauge preferred by FedInflation ticked up to a 2.5% annual rate in February, as measured by the gauge favored by the Federal Reserve, rising one tenth of a percentage point from the previous reading.
Source: dcexaminer - 🏆 6. / 94 Read more »

U.S. Economy Picked Up Steam in February, Chicago Fed Index SaysSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Inflation ticked up in February as Fed weighs interest rate cutsInflation ticked up in February, as the Federal Reserve weighs when to cut interest rates and keeps close watch for signs that high prices are ling...
Source: AllSidesNow - 🏆 572. / 51 Read more »

Inflation unexpectedly rose to 3.2% in February as Fed weighs rate cutsInflation unexpectedly rose to 3.2% for the year ending in February, the Bureau of Labor Statistics reported Tuesday in an update to the consumer ...
Source: AllSidesNow - 🏆 572. / 51 Read more »

Retail Sales: Expected rebound in February unlikely to change Fed stanceThe United States Census Bureau will publish the country’s Retail Sales report on Thursday, which is expected to show that the headline Retail Sales number will reverse the 0.8% monthly contraction seen in the first month of the year.
Source: FXStreetNews - 🏆 14. / 72 Read more »