(RTTNews) - A report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of February.
The Commerce Department said its personal consumption expenditures (PCE) price index climbed by 0.4 percent in February after rising by 0.3 percent in January. Economists had expected prices to increase by 0.4 percent.
The report also said the annual rate of growth by the PCE price index came in unchanged at 2.8 percent, which was also in line with estimates.
Excluding food and energy prices, the core PCE price index still climbed by 0.4 percent in February, matching the increase seen in January as well as expectations.
The annual rate of growth by the core PCE price index slipped to 3.0 percent in February from 3.1 percent in January. The modest slowdown was in line with estimates.
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 edged down by 0.1 percent in February after climbing by 0.4 percent in January, while personal spending increased by 0.5 percent in February after rising by 0.3 percent in January.
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