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US annual PCE inflation holds steady at 2.8% in February as expected
- US PCE inflation remained unchanged at 2.8% in February.
- The US Dollar Index remains in daily range at around 99.00.
Inflation in the United States, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, held steady at 2.8% in February, the US Bureau of Economic Analysis (BEA) reported on Thursday. This print came in line with the market expectation. On a monthly basis, the PCE Price Index was up 0.4%, as anticipated.
The core PCE Price Index, the Federal Reserve's preferred gauge of inflation, edged lower to 3% from 3.1% in January.
Other details of the report showed that Personal Income declined by 0.1% on a monthly basis, while Personal Spending increased 0.5%.
Market reaction
These figures failed to trigger a significant market reaction. At the time of press, the US Dollar Index was virtually unchanged on the day at 98.96.