U.S. Consumer Price Inflation Data Matches Estimates In January
(RTTNews) - Closely watched readings on consumer price inflation increased in line with economist estimates in the month of January, according to a report released by the Commerce Department on Friday.
The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in January, matching the increase seen in December as well as economist estimates.
The annual rate of growth by the PCE price index slowed to 2.5 percent in January from 2.6 percent in December, which also matched expectations.
Excluding food and energy prices, the core PCE price still climbed by 0.3 percent in January after edging up by 0.2 percent in December. The increase by core prices was also in line with estimates.
The annual rate of core PCE price growth slowed to 2.6 percent in January from 2.9 percent in December, which also matched expectations.
The Federal Reserve's preferred readings on consumer price inflation were included in the Commerce Department's report on personal income and spending.
The report said personal income grew by 0.9 percent in January after rising by 0.4 percent in December, while personal spending dipped by 0.2 percent in January after climbing by 0.8 percent in December.
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