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Key Fed inflation gauge, consumer spending rise in February
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Committee for a Responsible Federal Budget President Maya MacGuineas explains the 'three basic ways' Biden could reduce national debt.
A key inflation gauge watched closely by the Federal Reserve climbed on an annual basis in February.
The personal consumption expenditures price index (PCE) headline figure rose 2.5% last month, in line with expectations. On a monthly basis, prices rose 0.3%, slightly below the estimate of economists surveyed by LSEG.
Excluding food and energy, prices rose 2.8% annually in February and 0.3% from the prior month. Both figures were in line with expectations.
Consumer spending spiked 0.8% last month, up from the 0.2% increase in January.
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