The headline personal consumption expenditure (PCE) price index rose 0.2 percent year over year in January, down markedly from its December pace of 0.8 percent year over year. Core PCE price inflation, which excludes food and energy, rose 1.3 percent year over year in January, the same number as December. At a one-month annualized rate, PCE headline inflation fell 5.3 percent in January, a further decrease from December's fall of 2.7, and the core figure (one-month annualized rate) rose 0.7 percent, up from 0.1 percent in December.
