Keeping you up to date on the latest data releases.
- PCE Price Index
The Personal Consumption Expenditure (PCE) price index rose at an annualized rate of 4.9 percent in February, as energy prices continued to spike (rising 51 percent during the month). Food prices also rose relatively sharply in February—up nearly 10 percent—but have risen just 2.4 percent over the past year, matching its 10-year annualized trend. On a year-over-year basis, headline PCE prices are up 1.6 percent. Excluding volatile food and energy prices (core PCE), the index rose 1.9 percent during the month following an upwardly revised 2.0 percent increase in January. The near-term (3-month) annualized growth rate in the core PCE stands at 1.3 percent as of February, slightly above its 12-month growth rate of 0.9 percent, but still below its long term (10-year) growth rate of 1.8 percent. Looking just at the index of market-based price changes shows that the (market-based) core PCE rose 2.1 percent in February, a slight acceleration from January’s 1.4 percent increase, though the 12-month growth rate in this series matches the “official” core PCE growth rate of 0.9 percent.