A key US measure has risen again, and new federal data shows that consumers are cutting back on spending in a troubling sign for the economy.
The personal consumption expenditures (PCE) price index increased soared 6.4 percent in the 12 months through February, the biggest rise since 1982 and up from January's 6 percent rate, the Commerce Department said on Thursday.
The data also showed that consumer spending slowed significantly in February, as more expensive gasoline, rents and food are forcing households to cut back spending elsewhere.
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