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U.S. consumer spending rebounds in February

Xinhua, March 30, 2015 Adjust font size:

U.S. consumers' personal income continued rising in February and the consumers' spending in the same month also rebounded after falling for two months, the U.S. Commerce Department reported on Monday.

In the month, personal income increased 0.4 percent after a rise of 0.4 percent a month earlier. Personal spending rose 0.1 percent compared with a 0.2 percent decline both in January and December.

The price index for the personal consumption expenditure (PCC), a gauge for the inflation level preferred by the Federal Reserve, increased 0.3 percent year on year, compared to an increase of 0.2 percent in January.

The PCC index has been below the central bank's 2 percent target for years. The weakness in inflation likely reflects continuing slack in labor and product markets, as well as the sharp decline in energy prices.

With labor markets continuing to improve, the inflation will gradually move up, Janet Yelled, Chairwoman of the Federal Reserve, said recently. Endi