(Reuters) – Prices rose slightly more than expected in March in the United States as the rebound in household consumption continues, data released by the Commerce Department on Friday show.
The PCE consumer price index increased in March by 0.3%, as in February. Over one year, the index increased by 2.7%, compared to 2.5% in February.
Economists polled by Reuters expected on average an increase in the PCE index of 0.3% over one month and an increase of 2.6% year-on-year.
The underlying “core PCE” inflation index, which excludes the volatile elements such as energy and food products, increased by 0.3% in March, as in February. Over one year, the index rose to 2.8%, as in February.
Economists expected 0.3% over one month and 2.7% over one year.
Consumer spending by American households increased by 0.5% in March, as in February (revised from 0.4%). On an adjusted basis, overall consumer spending rose 0.8% last month, the same as in February.
(Written by Corentin Chappron, edited by Kate Entringer)
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