The Federal Reserve may be pleased that US inflation increased only moderately in February. However, consumer spending was seen to have surged after January's data was revied up.
In February, U.S. prices experienced moderate growth, while the pace of service costs outside of housing notably slowed, maintaining the possibility of a June interest rate cut by the Federal Reserve.
According to the Commerce Department's Bureau of Economic Analysis, the personal consumption expenditures (PCE) price index increased by 0.3% last month. January's data was revised upwards, showing a 0.4% climb instead of the previously reported 0.3%.
Over the twelve months leading to February, PCE inflation saw a 2.5% advance, compared to a ...
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