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The key measure of inflation of the federal reserve system grew more than expected in February, while consumer expenses also posted less than predicted, the commercial department reports on Friday.
A Basic Prices for Personal Consumption showed an increase of 0.4% per month, which put a 12-month inflation level of 2.8%. Economists interviewed by Dow Jones searched for the corresponding numbers of 0.3% and 2.7%.
Basic inflation eliminates volatile food prices and energy and is usually considered the best indicator of long -term inflation trends.
In the event, all the articles of the price index increased by 0.3% in the month and 2.5% compared to the year, both in accordance with the forecasts.
At the same time, the economic analysis report showed that consumer costs accelerated by 0.4% a month, lower than 0.5%. This came when personal income was 0.8% against 0.4%.
Fed officials focus on PCE inflation, as they consider it a broader measure, which also establishes changes in consumer behavior and makes less emphasis on housing than the consumer prices index.
Correction: Consumer expenses increased by 0.4%in February. The early headline incorrectly attached the number.
This is conducting the news. Please update updates.
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