Market Updates
PCE Price Index Eased In February, Personal Income Inched Higher
Brian Turner
31 Mar, 2023
New York City
The personal consumption price index increased 0.3% in February, slower than 0.6% in January when measured on a monthly basis, the U.S. Bureau of Economic Analysis reported Friday.
Core PCE price index, which excludes food and energy, increased 0.3%, slowest in five months and matched the rate in October 2022.
The watered down measure of inflation, the preferred inflation gauge by the Federal Reserve, increased 5.0% when measured on an annual basis in February.
The PCE Price index rose at the slowest pace since September 2021.
Core PCE price index, which excludes food and energy, slowed to 4.6% from 4.7% in January.
The PCE price index is the Federal Reserve's preferred measure of inflation, but the gauge also understated price increases by a large margin for most urban households.
The personal income increased $72.9 billion or 0.3% in February, disposable personal income advanced $89.9 billion or 0.5% and personal consumption expenditure rose $27.9 billion or 0.2%.
Personal outlays increased $40.7 billion in February, personal saving was $915.8 billion and the personal saving rate (personal saving as a percentage of disposable personal income) was 4.6%.
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