Keeping you up to date on the latest data releases.
The PCE price index rose 2.1 percent (annualized rate) in January, following an upwardly revised 1.7 percent increase in December. PCE prices are up 2.1 percent on a year-over-year basis for the second straight month. Excluding food and energy prices, “core” PCE was virtually unchanged in January, at 0.1 percent, following a 1.1 percent increase in December. The 12-month growth rate of core PCE ticked down one percentage point to 1.4 percent, while over the past 3 months core PCE is up only 0.2 percent, the lowest level in a year.