An inflation measure closely watched by the <a href="https://foxbusiness.com/category/the-fed" target="_blank" rel="noopener">Federal Reserve</a> rose again in January as high prices continued to weigh on millions of Americans.

The personal consumption expenditures (PCE) index showed that consumer prices rose 0.3% from the previous month, according to the Labor Department. On an annual basis, prices climbed 2.4% – down slightly from the 2.4% reading recorded the previous month.

The figures were both in line with estimates from Refintiv economists.

This is a developing story. Please check back for updates.

The Federal Reserve's favorite measure of tracking inflation jumped 0.3% in January as American families continue to grapple with elevated consumer prices.{ai:summary}Inflation spiked in January, hitting hard-working Americans. PCE index up 0.3% monthly, 2.4% yearly. Economists saw it coming. #economy

Fed's favorite inflation gauge rose 0.3% in January

Loading...