US PCE growth slows to 2.5pc in January
US personal consumption expenditures growth eased to 2.5% on an annualised basis in January, according to the Bureau of Economic Analysis, down from 2.6% in December.
At the core level, which strips out volatile food and energy, prices were also 2.6% higher year-on-year, down from December's 2.9% increase.
On a monthly basis, both headline PCE and the core reading advanced 0.3%, as expected by economists.
The BEA also revealed that personal income ticked up 0.9% month-on-month, while personal spending was down 0.2% when compared to December.
Reporting by Iain Gilbert at Sharecast.com