US PCE price index increases in accordance with February estimates

Washington (DPA -AFX) – a report published by the Department of Trade on Friday showed that US consumption prices have increased in accordance with the economist’s estimates in February, although basic consumption prices have increased slightly than expected.

The Department of Commerce said that the index of its personal consumption prices (PCE) has increased by 0.3 percent in February, corresponding to the growth observed in the previous two months, as well as the estimates of the economist.

The annual increase rate by PCE price index was 2.5 percent in February, unchanged from January and in accordance with expectations.

Meanwhile, the report said that the main PCE prices, which excludes food and energy prices, rose by 0.4 percent in February, after increased by 0.3 percent in January. Economists had expected a 0.3 percent increase.

The annual growth rate by the price -price price index has also accelerated at 2.8 percent in February, from an ascending 2.7 percent in January.

Economists were expecting to increase from year to year by PCE price price index to tick up to 2.7 percent compared to 2.6 percent initially reported for the previous month.

The favorite readings of the Federal Reserve on the inflation of consumer prices were included in the report of the Trade Department on personal income and expenses.

The report said that personal income increased by 0.8 percent in February, after climbing by 0.7 percent in January, while personal expenses increased by 0.4 percent in February, after decreased by 0.3 percent in January.