US prices saw a moderate increase in February, while the cost of services excluding housing slowed down significantly, indicating that the Federal Reserve might still consider an interest rate hike in June.
According to the Commerce Department’s Bureau of Economic Analysis, the personal consumption expenditures (PCE) price index rose by 0.3% last month. Also, data for January was revised upward, showing that the PCE price index increased by 0.4% instead of the previously reported 0.3%.
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