Key U.S. inflation figure rises to 6.4% in February, highest in 40 years
PCE Price Index, excluding food and energy, rose to 5.4% in February
By Yashasvini Razdan
Published - Mar 31, 2022, 04:38 PM ET
Last Updated - Feb 20, 2024, 02:55 PM EST
Personal income increased by 0.5% in February from a month earlier
Consumer spending rose to its highest level in 40 years in February, as goods and energy prices continue to surge.
The personal consumption expenditure price index, including food and energy, rose to 6.4% in February from a year ago.
Figures released by the Commerce Department on Friday showed that prices of goods rose by 1.1% for the month, rising to their highest price since October 2021. Inflation in services was relatively low at 0.3%.
