The Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures (PCE) Price Index fell 0.2% month to month in February from January. That was below economist expectations of a 0.5% month to month gain.
On a year over year basis, the headline PCE Price Index climbed 1.6%, according to the U.S. Bureau of Economic Analysis. That was in line with economists’s projections.
The core PCE Price Index, which excludes volatile energy and food prices, rose by 1.4% year over year. That was below Wall Street expectations for a 1.5% year over year gain. The Fed’s core inflation target is 2%.
The yield on 10-year Treasuries moved up slightly today to 1.66%, an increase for the day of 3 basis points.
