Personal consumption expenditures (PCE) in the United States grew by $145.5 billion, or 0.8%, in February compared to the previous month, the country's Bureau of Economic Analysis announced in a report published on Friday.
The PCE price index was up 0.3% on a monthly and up 2.5% on an annual basis. Excluding food and energy, the index was 0.3% higher than in February, while increasing 2.8% year-over-year. The Federal Reserve closely monitors the latter figure as its primary gauge of inflation and factors it in when determining monetary policy.
The report showed that, in February, personal income rose by $66.5 billion, or 0.3%. Disposable personal income (DPI) advanced by 0.2%, while real PCE increased by 0.4%, and real DPI dipped by 0.1% compared to the previous month.
