The Federal Reserve's preferred inflation gauge showed prices rose as expected in January at a pace that remains above the central bank's target level as its efforts to tamp down inflation continue.

The Commerce Department on Friday reported that the personal consumption expenditures (PCE) index was up 0.3% from the prior month and 2.5% on an annual basis. Those figures were in line with the estimates of economists polled by LSEG.

Core PCE, which excludes volatile food and energy prices, rose 0.3% for the month and 2.6% from a year ago, in line with estimates.

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The latest reading of the Federal Reserve's preferred inflation gauge showed that prices rose in line with economists' expectations in January as the inflation fight continues.{ai:summary}The Federal Reserve's preferred inflation measure, the personal consumption expenditures (PCE) index, showed a 0.3% monthly increase and a 2.5% annual rise, remaining above the central bank's target. Core PCE, excluding food and energy, also rose 0.3% monthly and 2.6% annually, matching economists' predictions. This data indicates ongoing inflation challenges as the Fed continues its efforts to stabilize prices. #economy

Inflation gauge favored by Fed showed prices grew as expected in January

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