PCE Report: Fed's Preferred Inflation Gauge Rises 2.9% In December

While PCE was in line with analyst forecasts, core PCE was higher than expectations, according to a Dow Jones estimate.

The Personal Consumption Expenditures (PCE) Index, which is the Federal Reserve’s preferred gauge of inflation, advanced 2.9% in December on an annualized basis.

The Commerce Department data showed that core PCE, which excludes food and energy, rose 3% on an annualized basis in December, up 0.4% on a monthly basis.

While PCE was in line with analyst forecasts, core PCE was higher than expectations, according to a Dow Jones estimate as cited by MarketWatch.

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