Fed’s preferred inflation gauge seen staying elevated

WASHINGTON: The US Federal Reserve’s (Fed) preferred measure of underlying price pressures probably remained elevated in February, keeping officials in a precarious spot as they seek to balance inflation-fighting resolve and stress on the banking system.

The US personal consumption expenditures (PCE) price index, excluding food and fuel, is forecast to rise 0.4% from a month earlier, according to the Bloomberg survey median. That would follow the largest advance since June.