Morningstar

February PCE Report: Index Up 2.8%, Stronger Than Expected

The PCE Price Index increased 0.38% in February.

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Illustration of capital building with bubbles of currency inflating

The February Personal Consumption Expenditures Price Index posted a stronger-than-expected increase, up 2.8% from year-ago levels. Economists forecast that the index would rise 2.6%. When volatile food and energy costs are factored out, the Federal Reserve’s preferred measure of inflation increased 3% from one year ago, in line with expectations.

The PCE Price Index increased 0.38% from month-ago levels. Excluding food and energy, the index increased 0.37%.

February PCE Inflation Report Highlights

  • The PCE Price Index rose 0.38% in February, above the FactSet consensus forecast for a 0.32% increase and following an increase of 0.30% in January.
  • Core PCE rose 0.37% in February, in line with forecasts and following an increase of 0.39% in January.
  • The PCE Price Index year over year rose 2.8% in February, above forecasts for a 2.6% increase and following an increase of the same amount in January.
  • Core PCE year over year rose 3.0% in February, in line with forecasts and following an increase of 3.1% in January.

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