Foodservice And Hotel Spending Fell Sharply In February, As PCE Inflation Back On The Rise

Consumer spending on foodservices and accommodations fell a dramatic 15% on a seasonally adjusted annual basis in February, according to the latest data on disposal income and consumer spending from the Bureau of Economic Analysis, released March 28. The Personal Consumption Expenditure Price Index, meanwhile, rose 0.3% month-over month, while the PCE Price Index less…