The Federal Reserve's favored measured of inflation, core personal consumption expenditure, or PCE, inflation, stood at 1.5% in January, unchanged from the previous two months, the U.S. Bureau of Economic Analysis reported.
Headline PCE inflation, which includes food and energy, also held steady from the two months prior at 1.7%.
On a month-over-month basis, the PCE price index rose by 0.4% in January following a 0.1% increase in December 2017. The core PCE price index went up 0.3% after a 0.2% increase in the previous month.
Personal income growth, which is measured in current dollar terms, came in at 0.4% in January, also unchanged.
The rise in personal income last month reflected increases in wages and salaries and social security benefits, which were partially offset by higher contributions for government social insurance.
Personal consumption expenditures rose by 0.2% on a monthly basis in January, following a 0.4% increase in December 2017.
