Core Inflation Matches Expectations, Dollar Stable
The Federal Reserve’s preferred inflation measure decelerated as expected in February, leaving central bank policy expectations largely unchanged. Data released by the Bureau of Economic Analysis this morning showed the core personal consumption expenditures index rising 0.3 percent in February from the prior month, but January’s number was revised higher to 0.5 percent, bringing the three-month annualized pace up to 2.6 percent – still within the central bank’s target range but headed in the wrong direction. On a year over year basis, base effects saw core price growth stabilising at 2.8 percent, the same as in January, and closely aligned...