The Federal Reserve’s preferred inflation gauge held steady in February at a 2.5-percent annual increase while “core” prices, which exclude food and energy, jumped up to a 2.8-percent annual

Consumer spending was weaker than expected again in February while a key inflation metric picked up, in a double whammy for the US economy before the brunt of tariffs.

U.S. consumer spending rebounded in February, likely lifted by higher prices, which could amplify fears that the economy was facing a period of tepid growth and high inflation amid an escalation in trade tensions.