U.S. PCE Price Index Increases In Line With Estimates In August

(RTTNews) - The Commerce Department released a report on Friday showing consumer prices in the U.S. increased in line with economist estimates in the month of August.

The report said the personal consumption expenditures (PCE) price index climbed by 0.3 percent in August after rising by 0.2 percent in July. The price growth matched expectations.

The annual rate of growth by the PCE price index ticked up to 2.7 percent in August from 2.6 percent in July, which was also in line with estimates.

Excluding food and energy prices, the core PCE price index rose by 0.2 percent in August, matching a revised increase in July as well as expectations.

The annual rate of growth by the core PCE price index came in at 2.9 percent in August, unchanged from July an in line with estimates.

The Federal Reserve's preferred readings on consumer price inflation were included in the Commerce Department's report on personal income and spending.

The report said personal income climbed by 0.4 percent in August, matching the increase seen in July, while personal spending grew by 0.6 percent in August after rising by 0.5 percent in July.