WASHINGTON — Personal consumption expenditures increased 0.2% in January as income rose 1.0%, the largest gain in 20 months, the Commerce Department reported Monday.
Core PCE, which excludes food and energy costs and is the Federal Reserve’s preferred measure of inflation, increased 0.8% in January from a year earlier and was revised higher for December to 0.8% from 0.7%.
The figure is still a record low on data stretching back to 1960.