Core consumer prices increased at the fastest pace in six months during February, even as consumer spending slowed to the weakest in six months, according to the U.S. Department of Commerce.
The core personal consumption price index rose 0.3 percent in February, the biggest gain since August, according to the commerce department. Core inflation matched economists’ expectations.
On a year-over-year basis, core inflation ticked up to 2.4 percent from 2.2 percent, the highest it’s been since September.
Overall consumer inflation increased 0.4 percent in February and is up 2.3 percent in the past year.
The report also showed that inflation-adjusted consumer spending growth slowed to 0.2 percent, the weakest gain since August. Spending had risen 0.3 percent in January. Consumer spending accounted for almost all the growth in the fourth quarter, but has slowed in the first quarter.
