An inflation measure closely watched by the <a href="https://foxbusiness.com/category/the-fed" target="_blank">Federal Reserve</a> showed signs of slowing in February, but it still remained abnormally high, according to new data released Friday.

The personal consumption expenditures (PCE) index showed that consumer prices rose 0.3% from the previous month and climbed 5% on an annual basis, according to the Bureau of Labor Statistics.&nbsp;

<i>This is a developing story. Please check back for updates.</i>

The personal consumption expenditures (PCE) index showed that consumer prices rose 0.3% in February, according to a Labor Department report released Friday.

Fed's favorite inflation gauge eases slightly in February, but prices remain high

Loading...