The headline personal consumption expenditures (PCE) price index rose 0.9 percent year over year in February, and it rose 1.2 percent the month before. For the same period, core PCE price inflation, which excludes food and energy, held steady at 1.1 percent. The trimmed-mean inflation rate, an alternative measure of core inflation, held at 1.3 percent. The PCE price index continues to run under the 2 percent objective of the Federal Open Market Committee.
