The US PCE price index rose 0.4% month-over-month, matching expectations and accelerating from January’s 0.3% increase. It was the steepest monthly increase in PCE prices in a year as goods prices jumped 0.7%, reversing January’s stagnation, driven by higher costs in motor vehicles and parts, recreational goods, gasoline, clothing, and food. Meanwhile, services inflation slowed to 0.2%, down from 0.4%, as healthcare, financial services, and recreational services cooled. The core PCE index, excluding food and energy, also climbed 0.4% after a 0.3% gain in January. Annually, the headline PCE index reached 2.8%, while the core index held at 3.0%.