Inflation gauge favored by Fed showed core prices ticked higher in February

The Federal Reserve's preferred inflation gauge showed prices rose in February at a pace that continues to exceed the central bank's target level amid its ongoing efforts to tamp down inflation.The Commerce Department on Friday reported that the personal consumption expenditures (PCE) index rose 0.3% from the prior month and 2.5% on an annual basis. Those figures were in line with the estimates of economists polled by LSEG.Core PCE, which excludes volatile food and energy prices, rose 0.4% for t